Oil prices dip
Afp, London
World oil prices slipped on profit-taking Monday after New York crude struck a 10-month high last week, though the market remained supported by tight energy supplies in the United States, traders said. In London, Brent North Sea crude for August delivery fell 10 cents to 71.31 dollars per barrel in electronic deals. New York's main oil futures contract, light sweet crude for delivery in August, dropped 13 cents to 70.55 dollars before the opening of US floor trading. New York crude had struck a 10-month high of 71.06 dollars per barrel on Friday -- the highest level since August 28, 2006 -- on US supply concerns. "Crude futures were almost unchanged (Monday)... holding onto strong gains from Friday, still supported by declining gasoline inventories in the US," Sucden analyst Michael Davies said.
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