Oil prices drop amid demand worries ...Middle East

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Oil prices drop amid demand worries
NEW YORK: Oil prices tumbled on Monday as demand worries prevailed.The West Texas Intermediate for September delivery shed US$4.73 or 4.8 per cent, to settle at US$93.89 a barrel on the New York Mercantile Exchange. Brent crude for October delivery decreased US$3.94 or 3.8 per cent to close at US$100.03 a barrel on the London ICE Futures Exchange.The above market reactions came after weak data from major economies fuelled concerns that slowing global growth would harm energy demand, reported Xinhua.S&P Global’s final manufacturing purchasing managers’ index for the eurozone fell below the crucial 50 mark in July to 49.8, from 52.1 in June data showed on Monday.Elsewhere the Institute for Su

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