BANGKOK (AP) - Oil prices fell again Thursday amid worries about the U.S. economy and signs of a slowdown in demand.
Benchmark oil for November delivery was down 33 cents to $102.33 per barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract dropped 47 cents on Wednesday to finish at $102.66 a barrel, the lowest closing price since July 3.
Oil has fallen 7 percent since closing at a two-year high of $110.53 on Sept. 6. Since then, diplomatic efforts have averted a U.S. military strike against Syria, and tense relations between the U.S. and Iran have shown signs of a thaw. As a result, the market has removed the so-called political risk premium from oil, which some analysts put at about $5 to $6 a barrel.
But worries about the U.S. economy continued to trouble traders.