Crude fortunes fall on Friday

18/09/2009

Crude oil prices dropped a little as the Friday (September 18th) trading session took place in Asia, reports the Associated Press (AP).

On Thursday, the commodity had reached $72.47 - a decline of three cents - on the New York Mercantile Exchange.

But Asia carried its value below $72 in electronic trading, as the value of crude fell by late afternoon in the East.

Overall, an 81-cent decline took the barrel value to $71.66 for October delivery.

The AP has previously cited worries relating to a potentially slow recovery from the recent economic turbulence as having subdued market performance on Thursday.

However, in morning trading on the day, the newswire noted that the commodity had actually reached its highest value for the month so far.

On the New York Mercantile Exchange, this carried crude for October delivery to a high of $73.16 before it fell back into the $72 range towards the end of the day.