Crude Prices Extended Losses

World oil prices eased on Monday (August 13)on concerns about U.S demand in the face of sub-prime mortgage risks.

New York's main futures contract, September light sweet crude, dropped 15 cents to close at 71.62 dollars per barrel.

In London, the price of Brent North Sea crude for September delivery fell 16 cents to settle at 70.23 dollars per barrel.

Crude futures plunged in value last week as traders feared that global energy demand may weaken amid the U.S sub-prime crisis. -Neftegaz.RU

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