Tender Procurements and Contract Opportunities Indonesia

Singapore, 31 / 8 (AFP / AFP) - Oil prices fell in Asian trade Tuesday as traders worried about the economic recovery of the United States a statement issued ahead of the main market for U.S. data this week, analysts said.

New York's main contract for light sweet crude October delivery fell 42 cents to the position of 74.28 dollars per barrel. Meanwhile, Brent North Sea crude oil for shipment in October fell 47 cents to 76.13 dollars per barrel.

The decline in oil prices is a "reflection of the general concern about the U.S. economic recovery," said Commonwealth Bank of Australia (CBA) in a report.

Trader sentiment has been hit Monday night by a report from the United States Department of Commerce, which shows that individual income has increased only 0.2 percent in July in the United States, smaller than the predicted increase of 0.3 percent.

Markets where also awaiting key U.S. economic data scheduled to be released this week, including a number of industrial manufacturers on Wednesday and employment figures on Friday the key, the two are expected to indicate economic weakness.

Collateral delivered chairman Ben Bernanke the Federal Reserve on Friday about the U.S. economy, failed to stimulate the market.

In a highly anticipated speech, Bernanke said U.S. growth prospects look up "remains in place" despite the sharp reduction in second-quarter pace of economic expansion.

Bernanke added that the Fed will take steps more "unconventional" to boost growth

if the economic outlook "significantly deteriorated."

CBA in a front page report added that the increase in oil export tax has also been hit Kazakkhstan enthusiastic traders.

"Kazakhstan's largest oil producer in Central Asia, plans to double its oil export tax to 40 U.S. dollars per metric ton in the next year," he said.

www.tenderoffer.biz