LONDON, Aug 18: Oil prices dipped on Monday, reversing gains made earlier in the day, as Royal Dutch Shell said Tropical storm Fay would likely spare the Anglo-Dutch group’s energy facilities in the Gulf of Mexico.

New York’s main contract, light sweet crude for September delivery, fell 11 cents to 113.71 dollars a barrel after bouncing above 115 dollars earlier Monday.

London’s Brent North Sea crude for October eased eight cents to 112.47 dollars.—AFP