Oil Prices Steady In Asian Trade
Thursday, July 31, 2008 at 12:52 pm Under Business News 11 views
SINGAPORE: World oil prices steadied in Asian trade on Thursday after a rebound of more than four dollars driven by an unexpected decline in US petrol stockpiles, analysts said.
New York’s main contract, light sweet crude for September delivery, fell 11 cents to 126.66 dollars a barrel.
The contract rallied 4.58 dollars to 126.77 dollars at the close of floor trading Wednesday on the New York Mercantile Exchange.
Brent North Sea crude for September delivery was 12 cents lower at 126.98 dollars a barrel following a rally of 4.39 dollars a barrel to 127.10 dollars Wednesday in London.
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