Oil prices dipped in Asia on Monday, the Associated Press reported. Late in Singapore, light, sweet crude for July delivery declined 36 cents to US$134.51 a barrel in electronic trading on the New York Mercantile Exchange. It fell US$1.88 to settle at US$134.86 on Friday. In its monthly market report, the OPEC said oil's recent volatility reconfirmed the view that «current price levels do not reflect supply and demand realities.» In other Nymex trading, July heating oil futures added 1.27 cents to $3.8495 a gallon, and July natural gas futures rose 1.5 cents to $12.64 per 1,000 cubic feet. Gasoline futures dipped 1.3 cents to settle at $3.4495. In London, July Brent crude lost 66 cents to $134.45 on the ICE Futures exchange.
