US summer driving season ends, reduced gas demand pull down prices below US$74

08-Sep-10
Crude prices have fallen below US$74 in Asia on anticipation of a reduction in demand as the summer driving season in US has come to an end and will push down petrol demand. End of summer this year coincides with weak oil demand and inventories that are near or above six-year highs. New York's main contract, light sweet crude for delivery in October dipped to US$73.75, while Brent North Sea crude for October delivery dropped to US$76.5.
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