Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 812 Thu. September 07, 2006  
   
Business


Oil prices decline


World oil prices fell on Wednesday, with Brent crude striking the lowest point for almost three months in London on easing supply concerns, analysts said. New York's main contract, light sweet crude for delivery in October, dropped 59 cents to 68.01 dollars per barrel in electronic deals before the official opening of the US market. In London, Brent North Sea crude for October delivery slid 73 cents to 67.36 dollars per barrel in electronic trade. At one point Wednesday, it fell to 67.25 dollars -- the lowest point since June 15. New York's light sweet crude had hit an intra-day low of 67.77 dollars on Tuesday, the lowest level since May 22, before ending at 68.60 dollars.