LONDON: World oil prices slid to new multi-month lows on Friday as the market was rattled once again by concern about the outlook for demand linked to the eurozone debt crisis, analysts said.
Brent North Sea crude for delivery in July struck $106.40 per barrel, which was the lowest point since December 21. The contract later stood at $106.97, down 52 cents compared with Thursday’s closing level.
New York’s main contract, West Texas Intermediate (WTI) crude for delivery in June sank to $91.60 a barrel, hitting the lowest level since November 3. …

* Brent, U.S. crude on track for third straight weekly drop
* Spanish banks suffer credit rating cuts
* Seaway pipeline reversal completed; oil to flow this weekend
* Investors eye weekend G8 meeting, Iran nuclear talks next week (Updates prices)
SINGAPORE – Brent crude slipped below $107 per barrel on Friday to its lowest in 2012 as a worsening euro zone crisis and weak U.S. economic data raised fears of a global slowdown that could dent oil demand.
Worries about the euro zone, already roiled by Greek political chaos, mounted as Spain slipped into …

Tullow Oil Plc (TLW) Chief Executive Officer Aidan Heavey said Kenya’s oil potential may be greater than neighboring Uganda, where the company and its partners have found about 2.5 billion barrels of resources.
“What surprised us in Kenya was that the first well had such a big section of oil,” Heavey said in London. Drilling at Tullow’s Ngamia-1 well revealed more than 100 meters (328 feet) of oil, more than double the amount at its other East African exploration wells, the company said earlier this month.
Tullow, which has unlocked billions of …

* Brent remains neutral above $110.34 -technicals
* U.S. crude inventories rise 6.57 mln barrels – API
* Asian shares fall as Greek uncertainty saps risk appetite
* Coming Up: U.S. EIA petroleum status report Weekly; 1430 GMT
SINGAPORE – Oil fell more than $1 on Wednesday, with the U.S. benchmark dropping to a more than 6-month low, as a larger-than-expected rise in crude stocks in the United States and fears of Greece’s exit from the euro zone muddied the outlook for demand growth.
Investors are worried about the demand for oil as a prolonged …

SYDNEY — Crude oil futures extended declines in electronic trading Tuesday, hitting a fresh 2012 low, as the possibility Greece will exit the euro zone sidelined equity and commodity investors.
Crude for June delivery CLM2 +0.21% lost 49 cents, or 0.5%, to $94.26 a barrel on the New York Mercantile Exchange during Asian trading hours.
Oil hit its lowest settlement since Dec 19. in the North American session on Monday after Saudi Arabia’s oil minister said prices are too high, while Greece’s escalating crisis drove demand for the U.S. dollar …