Oil Prices Sink In Asian Trade
From Business Standard
Oil prices sank in Asian trade today after Saudi Arabia and the United Arab Emirates opened crude pipelines bypassing the Strait of Hormuz, which Iran has repeatedly threatened to close, analysts said.
New York’s main contract, light sweet crude for August delivery, shed 34 cents to $86.76 a barrel and Brent North Sea crude for delivery in August retreated five cents to $102.35.
