Oil prices slipped further Wednesday after tumbling more than $3 a barrel in the previous session as a hurricane looked likely to spare key oil installations in the U.S. Gulf of Mexico. Traders in Asia awaited the release of U.S. oil supply data later in the day that was expected to show a rise in gasoline stocks amid weakening demand in the world's largest energy consumer. Light, sweet crude for September delivery fell $1.57 to $126.85 a barrel in electronic trading on the New York Mercantile Exchange by midafternoon in Singapore. The contract fell $3.40 to settle at $128.42 in the previous session. The August contract fell $3.09 to settle at $127.95 a barrel as it expired at the end of floor trade. The overnight sell-off dragged oil prices to their lowest level since early June and was crude's fifth decline in the last six sessions. ...
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