Reply #2: Oil falls toward $88 amid signs of weak US demand [View All]

[Pale Blue Dot]

SINGAPORE – Oil prices fell toward $88 a barrel Thursday in Asia amid signs of sluggish U.S. consumer demand.

Benchmark oil for October delivery was down 21 cents to $88.70 at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Crude fell $1.30 to settle at $88.91 on Wednesday.

In London, Brent crude for November delivery was steady at $109.65 on the ICE Futures exchange.

The Commerce Department said Wednesday that retail sales were flat in August. The government retail sales report is the first major read on consumer spending, which accounts for 70 percent of economic activity, for August.

http://old.news.yahoo.com/s/ap/oil_prices