Published 11/16/2010 - 6:06 p.m. EST
SINGAPORE (Commodity
Online) : World oil
prices dropped
below $85 a
barrel in Asian trade Tuesday
mainly on dollar gains amid
expectations of increase in US
crude stockpiles.
Light sweet
crude
for December delivery was seen
trading at $84.57 a barrel at
12.00
noon Singapore time
while Brent crude was at
$86.51 a barrel in London.
Published 11/16/2010 - 5:56 p.m. EST
TEHRAN, IRAN
(Commodity
Online):Iran believes
the
current market value for
crude oil is based largely on
a declining value
of the
U.S. dollar, Iran's governor
to OPEC said. The 12 members
of the
Organization of the
Petroleum Exporting Countries
decided to leave
production
levels unchanged during their
October meeting in Vienna. The
cartel said, however, that
economic uncertainty was a
cause for concern
in the
energy market.