World Oil Prices Fall On Slowing World Economy

June 14, 2011
The price of oil on world commodity exchanges was falling Monday morning on news that the global economy was showing signs of slowing down.

The price of a June futures contract for WTI light sweet crude in electronic trading on Nymex was down 75 cents to $96.55 a barrel by 7:10 Moscow time. The price of a June futures contract for North Sea Brent blend had dropped 34 cents to $118.76 in London.

Oil prices changed the day before with June WTI contracts off $1.99 to $97.30 a barrel and June Brent contracts up 38 cents to $119.10 per barrel.

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