Oil prices slipped this evening as investor concerns over a storm threat to energy installations in the Gulf of Mexico eased. US crude fell eight cents to $78.90 a barrel, while Brent North Sea crude dropped 12 cents to $77.33.
Traders digested news that Tropical storm Bonnie blew itself out in the Gulf of Mexico over the weekend, after causing disruption to shipping and oil output.
New York oil rallied close to $80 on Friday as Bonnie swirled towards the Gulf of Mexico -- but then pulled back after stress test results on Europe's banks were released.
Scepticism over European banking-sector stress tests, which cleared all but seven European lenders, received a subdued welcome on stock markets, though most bank shares rose slightly.
