In New York Mercantile Exchange (NYMEX) trading, West Texas Intermediate (WTI), the American benchmark crude, for November delivery fell by 3.36 dollars to close at 70.32 dollars a barrel.
Meanwhile in London's International Petroleum Exchange (IPE), the North Sea Brent crude oil settled at 69.72 dollars a barrel, 2.31 dollars lower than the price in the previous day.
Each barrel of Iran's exported crude destined to Mediterranean was traded for 76.82 dollars, to Asia for dlrs 70.93 dollars and to South Africa for 74.97 dollars, according to the website of National Iranian Oil Company's (NIOC) International Affairs Department.
On October 20, oil prices went up by 2.74 dollars on global markets on speculations that OPEC will cut production.
OPEC is to consider its output level in its upcoming emergency meeting in the weekend.
... Payvand News - 10/22/08 ... --