The price of oil on world commodity exchanges was falling Wednesday morning on news U.S. stock reserves were growing and consumer confidence in the country was falling. The price of a September futures contract for WTI light sweet crude in electronic trading on Nymex was down 62 cents to $76.88 a barrel by 6:50 Moscow time. The price of a September futures contract for North Sea Brent blend had dropped 44 cents to $75.69 in London. Oil prices dropped the day before on investors' doubts the U.S. economy was recovering as fast as had been thought. September WTI contracts were off $1.48 to $77.50 a barrel, while September Brent contracts were up $1.37 to $76.13 per barrel. Copyright 2010, Golos Rossii. All rights reserved.

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