RealNews

Oil prices fall from record levels despite continuing tensions

Oil prices slipped from last week’s record peaks but losses were capped by continued concerns over Iran and North Korea, traders said. New York’s main contract, light sweet crude for delivery in August, fell $0.18 to $73.91 per barrel in electronic deals before the official reopening of the US market. The contract had hit a historic $75.78 last Friday owing to simmering geopolitical tensions, particularly over Iran and North Korea. Brent North Sea crude for August delivery lost $0.12 to $73.13 per barrel in electronic trading on Monday. It had touched a record $75.09 Friday. Full Story

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