With threat of acute slump in US, the position of crude oil seems to be at a fall in the markets of Asia. With the decline in the prices of Euro, the chances of its fall increased even more, proving the analysis to come true.

At the index of New York Mercantile Exchange, light, sweet crude oil to be dispatched in the month of October fixed at a price of $84.99 a barrel at 0710 GMT met a fall of $1.46. Apart from the slump threats in US, strict financial measures taken by China are also making the base for the fall in the crude oil prices.

With the arrival of the Hurricane Irene in the US, many oil production units had to be closed. The Gulf of Mexico oil-and-gas production re-started with its work on Sunday, the company has already reorganized the position of the workers and has sent them to the Tropical Storm Lee.

As per the revelation made by the Government of US, 60.2% of the oil production and 44.3% of the natural-gas production was not commenced till Sunday, which comes to 843,000 barrels of oil and 2.3 billion cubic feet of natural gas every day.