Oil prices traded at $74 a barrel today after they fell to a six-week low last week aided by slow economic indicators, rising risk aversion and a lack of hurricane activity in the Gulf of Mexico.

For October delivery, US crude climbed 22¢ to stand at $74.04 a barrel by 01.53 GMT, while London Brent crude rose 22¢ to $74.48 a barrel, reports Reuters.

Front-month crude ended last week at the lowest level since early July after prices touched a Friday intraday low of $73.19.