World Oil Prices Decline on Depressed Global Economy

August 19, 2011
The price of oil on world commodity exchanges was falling Friday morning as analysts predicted possible recessions in the United States, Europe and China.

The price of a September futures contract for WTI light sweet crude in electronic trading on Nymex was down $1.72 cents to $80.66 a barrel by 7:00 Moscow time. The price of an October futures contract for North Sea Brent blend was off 83 cents to $106.16 in London.

The day before, September WTI contracts fell $5.20 cents to $82.38 a barrel, while October Brent contracts declined $3.61 cents to $106.99.

Copyright 2011, Golos Rossii. All rights reserved.