World crude future prices fell sharply Thursday amid concerns over energy demand shrinkage.

New York's main contract, light sweet crude for delivery in September, fell 2.35 dollars to close with 74 dollars per barrel.

In London, Brent North Sea crude for September delivery settled down 2 dollars 75.28 dollars per barrel. This contract surged to record 78.64 dollars on Monday after BP shut down its production in Alaska.

Twenty-one people had been arrested in connection with a foiled plot to blow up aircraft flying from Britain to the United States, British police said on Thursday. The bomb affairs ignited traders' assume that world economy may tumble on the terror threat and result in a fall of oil consumption.

Meanwhile, OPEC said in a statement that it remains confident that "the world is still adequately supplied with oil and that no shortage will occur".

Brent North Sea crude surged to record 78.64 dollars on Monday after BP shut down its production in Alaska.

Energy Secretary Samuel Bodman said on Tuesday there are adequate supplies to make up for the loss to BP's refineries. Meanwhile, the White House said that Mexico and Saudi Arabia had offered to provide extra supplies.

Source: Xinhua