Oil Price Falls as Traders Consider Egypt
Washington, DC, Aug. 19, 2013 -- Oil prices fell below $107 a barrel Monday.
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By early afternoon in Europe, benchmark oil was down 62 cents to $106.84 a barrel in electronic trading on the New York Mercantile Exchange.
The contract closede at $107.46 on Friday, its sixth straight day of gains, due mostly to unrest in Egypt.
Brent crude, which is used to price imported crude used by many U.S. refineries, was up 3 cents to $110.43 a barrel for October delivery.