World Oil Prices Recede On Investors' Worries Over Slow Economic Recovery

The price of oil on world commodity exchanges was falling Friday morning as investors' concerned grew over the slow pace of the world's economic recovery, a factor they believe will result in less fuel consumption.
The price of a September futures contract for WTI light sweet crude in electronic trading on Nymex was down 26 cents to $78.10 a barrel by 7:00 Moscow time. The price of a September futures contract for North Sea Brent blend had dropped 26 cents to $77.33 in London.
Oil prices climbed the day before on a weakening dollar with September WTI contracts up $1.37 to $78.36 a barrel, while September Brent contracts were up $1.53 to $77.59 per barrel.
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