Oil prices fell in early Asian trade on Thursday as a strong dollar and economic woes outweighed optimism over consumer demand. Brent crude futures fell 59 cents, or 0.7%, to $88.73 per barrel by 0016 GMT while U.S. crude futures fell by 54 cents, or 0.7%, to $81.59. A strong dollar reduces demand for oil by making it more expensive for buyers using other currencies.
One of the world’s most mature deepwater basins, the U.S. Gulf of Mexico, has a lot of production life left and could help bridge the oil supply gap
The market has finally started to factor the soaring price of coal into the miner's share price.