OG:World Oil Prices Decline on Lower U.S. Consumption
The price of oil on world commodity exchanges was falling Monday morning in light of lower consumption in the US and the European debt crisis.
The price of an October futures contract for WTI light sweet crude in electronic trading on Nymex was down $1.15 to $86.09 a barrel by 7:00 Moscow time. Meanwhile, the price of an October futures contract for North Sea Brent blend was off 98 cents to $111.79 in London.
Last Friday October WTI contracts fell $1.81 to $87.24 a barrel.
