Oil Prices Fall as Tropical Storm Bonnie Weakens

With the downgrading of Tropical Storm Bonnie easing the threat of damage to oil wells in the Gulf of Mexico, oil prices fell towards $78 a barrel on Monday. By early afternoon in Europe, benchmark crude for September delivery was down 56 cents at $78.42 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell 32 cents to settle at $78.98 on Friday.

Source: The Associated Press

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