Crude oil prices continue to fall

Oil prices fell below US$120 a barrel for a time in overnight trade as tropical storm Edouard skirted away from oil facilities in the Gulf of Mexico.

Crude is currently trading at US$121, down more than $3 a barrel on yesterday's close.

Falling demand in Europe and America and rising output by the world's top exporter Saudi Arabia are also being credited for the price drop.

In mid-July, oil prices reached a record US$147 a barrel.

- NEWSTALK ZB