Crude sank in Asia Wednesday as a call by the Group of Seven nations for oil producers to increase output overrode US supply disruptions due to Hurricane Isaac, analysts said. New York’s main contract, light sweet crude for October delivery, shed 37 cents to $95.96 a barrel and Brent North Sea crude for delivery in the same month slipped 36 cents to $112.22. A call by the G7 industrial nations for oil producers to increase output interrupted a crude rally fuelled by US production facility closures due to Hurricane Isaac, said IG Markets Singapore market strategist Justin Harper. “The G7 seem a little late in making this request on oil producers as we could see subdued demand for the second half of the year, keeping energy prices contained,” he told AFP.
