Oil prices fall as Rita avoids refineries

US oil prices fell yesterday after Houston refineries escaped serious damage from Hurricane Rita, although plants further east in Port Arthur and Lake Charles were hit harder.

London Brent crude, open for a special weekend session on the International Petroleum Exchange, was off 94 cents at $61.50 a barrel after sliding $2.16 on Friday.

The New York Mercantile Exchange crude was also open for trading yesterday.