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October 04, 2008 Saturday Shawwal 04, 1429



Oil prices fall


NEW YORK, Oct 3: Oil fell on Friday, dragged down as demand concerns outweighed optimism following the passage of the US financial sector rescue bill in the US House of Representatives.

US crude fell 22 cents to $93.75 a barrel after dropping $4.56 on Thursday on concerns about slumping demand. London Brent crude gave up 32 cents to $90.24 a barrel.

NYMEX November RBOB was down 3.45 cents, or 1.53 per cent, at $2.2205 a gallon, trading from $2.1875 to $2.2886.

NYMEX November heating oil slipped 6.08 cents, or 2.24 per cent, at $2.6487 a gallon, trading from $2.6240 to $2.7320.

The heating oil crack spread dipped to $18.14 a barrel, and the RBOB crack spread rose to $0.15.—Reuters







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