Oil prices drop



Global oil prices fell further on stubborn concerns over high supplies and slowing Chinese demand.


 US benchmark West Texas Intermediate for delivery in September dropped by 27 US cents to US$47.12 a barrel compared with yesteray's close.

 Brent North Sea crude for September delivery shed 71 US 
cents to stand at US$52.76 a barrel in London midday deals.

 Crude futures had slid for a fourth straight session yesterday as the steepest drop in Chinese equities since 2007 fuelled fears about reduced demand in China.—AFP
Oil prices drop Oil prices drop Reviewed by Ajit Kumar on 8:53 PM Rating: 5

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