Bloomberg News

Transneft Slides for First Day in 3 as Crude Falls Below $79

October 03, 2011

(Updates with closing share price in second paragraph.)

Oct. 3 (Bloomberg) -- OAO Transneft, the Russian oil pipeline monopoly operator, declined for the first day in three as crude slipped below $79 a barrel.

The shares dropped as much as 6.3 percent and traded 4.2 percent lower at 31,406 rubles by the 6:45 p.m. Moscow close.

Crude for November delivery fell 45 cents to $78.75 a barrel in New York as the growing European debt crisis curbed demand.

--Editor: Alex Nicholson

To contact the reporter on this story: Jason Corcoran at Jcorcoran13@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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