Oil prices witness downward trend in Asian Trading

The oil prices are witnessing a decrease in the Asian Trading following the decline in energy consumption in the US. In Singapore, the light sweet crude oil prices for November delivery reached $65.60 per barrel with a decrease of 42 cent. In Brent North See the deals were finalized in $64.62 with a decrease of 49 cent. The experts believe that negative news regarding world economies are putting adverse affects on commodities markets. In US the durable prices witnessed a decline of 2.4 percent in August which resulted in less consumption of petroleum products bringing the oil prices down in the international markets