Price of light American crude oil drops in Asia

GMT 11:50 2014 Monday ,03 November

Arab Today, arab today Price of light American crude oil drops in Asia

American crude oil
Kuala Lumpur - KUNA

Prices of forward deals of the light American crude oil, for December's delivery, dropped in the Asian trades 32 cents reaching USD 80.22 per barrel on Monday, as compared to the Friday rates.
The Brent forward transactions for December's delivery fell 19 cents, today, to USD 85.67 pb, also in contrast to the Friday rates. Price difference between the light American crude and the Brent crude amounted to USD 5.45.
Fall of the American crude price in the Asian markets came against backdrop of fresh reports about the Chinese economy indicating growth of the industrial sector in the major Asian industrial nation.
The crude price's fall is also attributed to rise of the US dollar rate vis a vis the other hard currencies.

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