The main contract for light sweet crude oil for October delivery dropped in price by 1.68 dollars to 72.92 dollars per barrel. Brent North Sea oil for October delivery fell 1.16 dollars to 75.71 dollars per barrel in London.
Monday ended with "driving season" in the U.S., or the peak demand for gasoline during the period from May to September in the United States when Americans traditionally travel long distances during their summer vacations.
"This year, at the end of driving season, as demand for oil was weak. Stocks were near or above the six-year maximum," - said in a report to the Commonwealth Bank of Australia.
Morgan Stanley analyst Hussein Allidina believes that futures are likely to remain at about the upper limit of the range of 70-80 dollars. "Oil prices are likely to remain in this corridor until mid-October, before, eventually, begin to grow", - he said.
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