| GEO Business | | Oil lower in Asia | Updated at: 1310 PST, Friday, May 21, 2010
SINGAPORE: Oil was lower in Asian trade Friday, dragged by investor concerns over Europe's debt crisis and the stuttering US economy, the world's biggest energy user, analysts said.
New York's main contract, light sweet crude for July delivery, dropped 31 cents to 70.49 dollars a barrel. The contract fell to near 10-month lows of 64.24 dollars at one time during Thursday trading. Brent North Sea crude for July delivery was off 36 cents at 71.48 dollars a barrel.
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