Oil prices lower in Asian trade
Tuesday, 3 July 2007
SINGAPORE, July 2 (AFP): Oil prices declined in Asian trade Monday on profit-taking after striking 10-month highs but the market remains concerned about adequate gasoline (petrol) supplies in the United States, dealers said.
New York's main contract, light sweet crude for August delivery, was down 27 cents to 70.41 US dollars a barrel from 70.68 dollars in late US trades Friday.
Brent North Sea crude for August delivery dropped 24 cents to 71.17 dollars.
Oil prices jumped to 10-month highs above 70 dollars Friday as players fretted over US energy supplies, in particular gasoline reserves.
New York's main contract, light sweet crude for August delivery, was down 27 cents to 70.41 US dollars a barrel from 70.68 dollars in late US trades Friday.
Brent North Sea crude for August delivery dropped 24 cents to 71.17 dollars.
Oil prices jumped to 10-month highs above 70 dollars Friday as players fretted over US energy supplies, in particular gasoline reserves.