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LONDON: World oil prices fell on Tuesday after doctors said that Saudi Arabia’s King Fahd had responded to treatment for pneumonia — a condition that had sparked concerns about crude production in his oil-rich kingdom.
New York’s main contract, light sweet crude for delivery in July, fell 45 cents from Friday’s close to $51.40 per barrel in early deals.
In London, the price of Brent North Sea crude oil for delivery in July dropped 23 cents to $50.47 per barrel. —AFP
