Oil prices dip below $75News added by ProWEB Media on August 18, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

The price per barrel for oil this morning dipped below $75 amid reports from the American Petroleum Institute that crude inventories last week increased by 5.87 million barrels.

In fact, the cost of crude for September delivery declined 97 cents to a figure of $74.80 a barrel on the New York Mercantile Exchange.

This comes just a day after the cost of the commodity rose 53 cents to settle at $75.77 -- the first climb after five consecutive days of losses.
The views expressed here are those of the author and not necessarily those of ProducersWEB.
Reprinting or reposting this article without prior consent of Producersweb.com is strictly prohibited.
If you have questions, please visit our terms and conditions
Post Press Release