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"Black gold" cheaper - August 7, 2008

August 7 2008

Oil prices on world markets on Wednesday declined due to rising fuel stocks in the U.S., major energy consumers in the world, Reuters reported.

The price for September delivery on the North Sea petroleum mix of mark Brent Crude Oil at London exchange ISE (InterContinental Exchange Futures) following trades declined by 0.7 dollar - up to 117.0 dollars per barrel.

On the New York Stock Exchange NYMEX (New York Merchantile Exchange) cost of the December futures for U.S. light crude oil Light Sweet Crude Oil fell by 0.59 dollar - up to 118.58 dollars per barrel.

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