July 28, 2010 11:01 AM

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Oil prices drop to 77dollars a barrel

Oil prices drop to 77dollars a barrelOil prices dropped to 77 dollars a barrel in Asian trade today. New York's light sweet crude was down 43 cents to 77.07 dollars a barrel in morning trade. London's Brent North Sea crude lost 35 cents to 75.78 dollars a barrel. Analysts said falling consumer confidence in the United States and the growing likelihood of double-dip in house prices has put a further dent in the already deteriorating outlook for consumption growth.

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