Oil price falls

Crude prices fell for a third day in a row yesterday amid evidence that the high cost of oil and petrol was slowing US demand. Crude prices have plummeted more than $10 (about R75) a barrel over the previous two sessions, and were down nearly $1 in electronic trading yesterday. But prices are still well above year-ago levels. Higher US oil supplies, along with evidence of quickening inflation and slowing economic activity in the world's largest economy, have helped pull prices down from last Friday's record above $147 a barrel. Light, sweet crude for August delivery was down 93 cents at $133,67 a barrel yesterday. - Sapa-AP

Crude prices fell for a third day in a row yesterday amid evidence that the high cost of oil and petrol was slowing US demand. Crude prices have plummeted more than $10 (about R75) a barrel over the previous two sessions, and were down nearly $1 in electronic trading yesterday. But prices are still well above year-ago levels. Higher US oil supplies, along with evidence of quickening inflation and slowing economic activity in the world's largest economy, have helped pull prices down from last Friday's record above $147 a barrel. Light, sweet crude for August delivery was down 93 cents at $133,67 a barrel yesterday. - Sapa-AP

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