Crude oil prices in the global markets drop further…some hours into the Eid-el-Kabir celebrations marked worldwide.
The U.S. government’s action in resorting to its strategic oil reserves to offset oil production cut by floods, depressed product prices.
At the London market, the Brent crude trades lower at fifty two dollars per barrel….losing twenty three cents.
The Opec basket brand drops to forty nine dollars per barrel.
