Brent crude held above $123 in volatile trade on Tuesday which saw prices fall on worries about demand from slowing economies in China and Europe, but fears of a disruption in Iranian supplies held up the market.
Investors are worried that oil consumption will suffer as the euro zone maybe facing its second recession in three years, and that demand from China may be hit by a cut in its 2012 growth target to an eight-year low of 7.5 per cent.
Investors are worried that oil consumption will suffer as the euro zone maybe facing its second recession in three years, and that demand from China may be hit by a cut in its 2012 growth target to an eight-year low of 7.5 per cent.
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