Chinese market slide softens oil price

Oil prices fell to near US$72 ($105) a barrel yesterday in Asia as China's stock market tumbled and commodities investors questioned whether the US economy can recover strongly in the second half.

Benchmark crude for October delivery was down 41c to US$72.34 a barrel in electronic trading on the New York Mercantile Exchange.

In London, Brent crude was down 49c at US$72.30.