Oil lower | The Daily Star
12:00 AM, June 23, 2010 / LAST MODIFIED: 12:00 AM, June 23, 2010

Oil lower

Oil prices eased in Asian trade yesterday after surging in the previous session as investors weighed the effects of China's announcement that it would allow a more flexible yuan currency.
New York's main futures contract, light sweet crude for delivery in July, dropped 72 cents to $77.10 a barrel while London's Brent North Sea crude for August delivery was off 74 cents at $78.08.
China's weekend announcement it would "strengthen the flexibility" of the yuan had sent oil prices sharply higher Monday on expectations of higher demand from Chinese consumers.

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