SINGAPORE (Commodity Online): It was a fourth successive decline for Crude oil on New York exchanges as the concerns about slower economic recovery and reduced consumption data hinted towards reduced fuel requirements thereby leading to a fall in prices.

Crude oil prices remain relatively steady despite the equities slump over past few trading sessions.

On the New York Mercantile Exchange (NYMEX), Crude futures for August delivery dropped as much as 51 cents or 0.7% , to USD 75.50. The prices have remained at USD 75.88 London time. According to international data, the futures prices have dipped by 4.4% so far this year.

The weakness in the crude oil prices was mainly driven by a slump in revenues at Bank of America Corp., Citigroup Inc. and General Electric Co. a gauge of U.S. consumer confidence sank to the lowest in a year.

Meanwhile on the Indian commexes, Crude oil futures remained up by Rs.11 and traded at Rs.3,634 per barrel on Monday as traders created fresh positions on the back of a spurt in the spot market demand.

At the Multi Commodity Exchange, crude oil for September gained Rs 11 or 0.30 per cent to Rs 3,634 a barrel with an open interest of 885 lots, a news agency PTI reported today.

The oil for delivery in current month July also went up by Rs 10 or 0.28 per cent to Rs 3,604 a barrel in 10,223 lots, the report said.

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