Oil Prices Fall further, As Brent Drops below 60 dollars

World oil prices extended losses on Tuesday, with the price of Brent crude oil sliding below US$60 per barrel amid healthy US energy supplies ahead of the northern hemisphere winter, dealers said.

Brent North Sea crude for November delivery shed 75 cents to 59.70 dollars per barrel in electronic trading. On Monday, Brent plunged 2.03 dollars to settle at 60.45.

On Tuesday in electronic deals before the official opening of the US market, New York's main contract, light sweet crude for delivery in November, dropped 63 cents to 60.40 dollars per barrel.

New York crude had plunged 1.88 dollars on Monday to close at 61.03.

Source: AFP

Other news