U.S. oil prices fell Monday to $78.43 a barrel on profit-taking and fears slowing U.S. economic growth would cut demand.

Light, sweet crude for October delivery fell 67 cents, or 0.85 percent, to $78.43 a barrel in mid-morning trading on the New York Mercantile Exchange.

October natural gas rose 4 cents, or 0.56 percent, at $6.31 per 1,000 cubic feet.

Heating oil shed 0.98 cents, or 0.44 percent, at $2.198 a gallon.

Reformulated-gasoline blendstock for oxygen blending lost 2.28 cents, or 1.12 percent, at $2.0136 a gallon, the highest level since Aug. 31.

AAA said the average U.S. retail regular unleaded gasoline price was $2.788 a gallon, down 0.6 cents from Friday's $2.794 a gallon.
// Copyright 2007 by United Press International


Publication date: 17 September 2007   

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