Oil Prices Drop, Brent Hits $ 71.71 A barrel

Dubai – Massader News

Oil prices fell on Tuesday and Brent crude for September delivery fell by 0.2% to $ 71.71 a barrel, amid fears of supply glut, according to a report published by Mubasher.

Nymex crude futures dropped $ 67.92 a barrel, by 0.2%.

The Energy Information Administration expected US oil production to rise from the seven main fields in August to 7.470 million bpd.