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Article: Oil falls below $71 per barrel

Article from:
Telegraph - Herald (Dubuque)
Article date:
August 11, 2009
Copyright

Oil prices fell below $71 per barrel Monday ahead of this week's U.S. consumer spending data that could shed light on the strength of the economic recovery.

Benchmark crude for September delivery fell 33 cents to settle at $70.60 per barrel on the New York Mercantile Exchange.

The government this week will report July retail sales, and Wal- Mart Stores Inc. and Macy's Inc. will announce their second quarter results.

Friday's news that the U.S. unemployment rate fell to 9.4 percent in June sent stock markets surging, ...

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