Oil Prices fell from U.S. $ 78 per barrel

Oil prices of Asian trade in the New York Stock Exchange went down again to fall from U.S. $ 78 per barrel. The decline came amid signs that the global economy will grow slower than forecast in the second half of this year.

Based on electronic transactions that were monitored on Thursday noon Singapore time, the price of crude oil for September delivery fell 56 cents to U.S. $ 77.46 per barrel. In direct transactions in the stock exchange in New York early this morning, oil prices were down U.S. $ 2.23 to U.S. $ 78.02 per barrel.

Oil traders watched the stock price as an indicator of overall investor sentiment. Most Asian stock indexes tumbled today on stock transactions, led by the decline in Japanese stock index 1.6 percent.

Dow Jones industrial stock index tumbled 2.5 percent yesterday after the U.S. Commerce Department said that the trade deficit expanded in June to its highest level in 20 months because the level of exports tumbled. This can make the manufacturing sector weakened and the economic slump.

“The economy is still very fragile, the market mood changes every few weeks,” Sander Capital said in a report. “It is feared will happen devalued assets and when this happens, then consumers will not consume,” he continued.

Meanwhile, Brent oil prices fell 74 cents to U.S. $ 76.90 per barrel on the London stock exchange.