Oil falls to near $72 in Asia on economic fears - MSNewsNow.com - Jackson, MS

Oil falls to near $72 in Asia on economic fears

Associated Press - August 24, 2010 5:14 AM ET

KUALA LUMPUR, Malaysia (AP) - Oil prices sank to near $72 a barrel today in Asia as regional markets fell amid fresh concerns about the pace of the global economic recovery.

Benchmark crude for October delivery was down 84 cents at $72.26 a barrel at midday Kuala Lumpur time in electronic trading on the New York Mercantile Exchange. The contract fell 72 cents to settle at $73.10 on Monday, after hitting a high of $74.88 earlier in the day.

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