Oil prices down

Oil prices down
# 14 May 2010 07:20 (UTC +04:00)
Baku - APA-Economics. Front-month U.S. crude for June delivery settled down $1.25 to $74.40 a barrel, having earlier slid to $73.62, the lowest since February 12. U.S. crude prices have fallen in seven of the last eight sessions, Reuters reported.

June’s discount to July U.S. crude, widened in early trading due to rising inventories at the delivery point for the New York Mercantile Exchange’s oil futures contract in Cushing, Oklahoma.

London Brent fell $1.09 to settle at $80.11 a barrel, narrowing its premium over U.S. crude to $5.71, after hitting $6.55, highest in 15 months.
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