Oil prices slipped further Wednesday after tumbling more than US$3 a barrel in the previous session, the Associated Press reported. Light, sweet crude for September delivery fell US$1.57 to US$126.85 a barrel in electronic trading on the New York Mercantile Exchange by midafternoon in Singapore. The contract fell US$3.40 to settle at US$128.42 in the previous session. The August contract fell US$3.09 to settle at US$127.95 a barrel as it expired at the end of floor trade. In other Nymex trading, heating oil futures lost 3.82 cents to US$3.64 a gallon (3.8 liters) while gasoline prices dropped 4.5 cent to US$3.102 a gallon. Natural gas prices fell 1.4 cents to US$10.053 per 1,000 cubic feet. September Brent crude fell US$1.65 to US$127.90 a barrel on the ICE Futures exchange in London.
