August 04, 2007	Saturday	Rajab 19, 1428

LONDON, Aug 3: World oil prices fell on Friday as traders wrapped up a momentous week that saw New York crude strike a record high $78.77 per barrel on concerns over US energy supplies.

New York’s main futures contract, light sweet crude for delivery in September, tumbled $1.16 to $76.67 per barrel in US floor trading.

In London, the price of Brent North Sea crude for September delivery shed 19 cents to $75.57 per barrel in electronic deals.

New York crude oil had soared to $78.77 on Wednesday after the US Department of Energy said US crude stockpiles sank 6.5 million barrels in the week ended July 27.—AFP