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Asian oil prices began to ease in trading Friday after two days in a row to take advantage. This is a sign of regional stock markets retreated amid expectations of slower U.S. economic growth.

Benchmark crude for October delivery fell 24 cents to USD73, 12 per barrel at midday when Kuala Lumpur in electronic trading on the New York Mercantile Exchange. Earlier, the contract rose 84 cents at USD73, 36 in Thursday trade.

Crude oil has fallen to almost $ 70 from its highest price USD82, 55 per barrel earlier this month, attracting buyers in the last two days on expectations that prices will soar again.

But the rally was short-lived amid gloom about the global economy. Asian stock markets mostly fell on Friday in line with Wall Street’s decline overnight. United States is expected to revise down economic growth for the quarter April to June when the release of the updated GDP report Friday.

“The recall of oil is driven by the corresponding decline in Asian equity markets Oil will. To be under pressure due to general pessimism in the market,” said energy analyst at consultancy Purvin and Gertz in Singapore, Victor Shum, quoted by Associated Press on Friday (27 / 8 / 2010).

Governors of the Federal Reserve (Central Bank of United States) Ben Bernanke in a speech Friday morning that investors hope will explain how the actual weakening U.S. economy and whether the Fed might take more steps to revive it.

In other NYMEX trading September contracts, heating oil fell 0.64 cent to $ 2, 00 per gallon and gasoline lost 0.67 percent to USD1, 902 per gallon. natural gas rose 1.7 cents to USD3, 834 per 1,000 cubic feet. Brent crude fell 24 cents to USD74, 78 per barrel on the ICE futures exchange