sourceWORLD crude prices dropped below $US59 in New York trade overnight, as traders cast doubt on the likelihood of an output reduction by the OPEC oil cartel.
New York's main contract, light sweet crude for delivery in November, lost $US1.01 to $US58.95 per barrel in pit trading.
In London, Brent North Sea crude for November delivery slumped 93 cents to $US59.61 per barrel in electronic deals.
The market shrugged off events in Nigeria - Africa's biggest producer of crude - where armed youths in the country's restive Niger Delta seized a flow station run by oil company Shell.
Tags: Slide | prices | barrel | Nigeria | Niger Delta | New York | London | Africa
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