NEW YORK, Sept. 25 (Xinhua) -- Crude prices dropped sharply Tuesday, settling below 80 U.S. dollars a barrel.
There was little news affecting oil prices Tuesday, analysts said. The prices declined as investors locked in profits from the recent record-setting rally.
Light, sweet crude for November delivery fell 1.42 dollars to settle at 79.53 U.S. dollars a barrel on the New York Mercantile Exchange.
In London, November Brent crude lost 1.29 U.S. dollars to settle at 77.62 U.S. dollars a barrel on the ICE Futures exchange.
Crude futures set the highest record near 84 U.S. dollars a barrel on Thursday, the day the October contract expired. The November crude contract has declined in every session since.
There was little news affecting oil prices Tuesday, analysts said. The prices declined as investors locked in profits from the recent record-setting rally.
Light, sweet crude for November delivery fell 1.42 dollars to settle at 79.53 U.S. dollars a barrel on the New York Mercantile Exchange.
In London, November Brent crude lost 1.29 U.S. dollars to settle at 77.62 U.S. dollars a barrel on the ICE Futures exchange.
Crude futures set the highest record near 84 U.S. dollars a barrel on Thursday, the day the October contract expired. The November crude contract has declined in every session since.
