AFP, Singapore :
Crude prices were down in Asia Friday, after the US Senate approved a bill to build an oil pipeline from Canada to refineries in the US Gulf Coast, adding to concerns over a supply glut.
US benchmark West Texas Intermediate for delivery in March was down three cents to $44.50 in volatile afternoon trading, while Brent for March eased 35 cents to $48.78.
WTI fell below $44 a barrel at one point in New York trade Thursday, a level not seen since March 2009.
The US Senate also on Thursday approved a bill authorising construction of the controversial Keystone XL oil pipeline from Canada to the United States.
After weeks of at-times fierce debate, the bill passed with 62 votes to 36, with nine Democrats defying President Barack Obama to support a project that would transport crude from Alberta’s oil sands to refineries along the US Gulf Coast.
Crude prices were down in Asia Friday, after the US Senate approved a bill to build an oil pipeline from Canada to refineries in the US Gulf Coast, adding to concerns over a supply glut.
US benchmark West Texas Intermediate for delivery in March was down three cents to $44.50 in volatile afternoon trading, while Brent for March eased 35 cents to $48.78.
WTI fell below $44 a barrel at one point in New York trade Thursday, a level not seen since March 2009.
The US Senate also on Thursday approved a bill authorising construction of the controversial Keystone XL oil pipeline from Canada to the United States.
After weeks of at-times fierce debate, the bill passed with 62 votes to 36, with nine Democrats defying President Barack Obama to support a project that would transport crude from Alberta’s oil sands to refineries along the US Gulf Coast.
