Crude Slipped From 32 yrs Record

Crude oil prices slipped from record high Tuesday on traders? profit taking from recent rally, but tensions in the Middle East and refinery problems in the United States remained a focus in their minds.
Light, sweet crude oil futures for September delivery fell 87 cents to end at $63.07 a barrel on the New York Mercantile Exchange.

Meanwhile, on London's IPE the September Brent dropped 72 cents to settle at $61.98 a barrel.

Tuesday's profit-taking came as the Organization Petroleum Exporting Countries (OPEC) said global oil supply was exceeding demand. A US government report also showed distillate stockpiles on the East Coast this winter would be higher than last year despite surging demand.