Oil falls below 97 dollars - Middle East Times

Wednesday, January 7, 2009

Oil falls below 97 dollars

Published: November 26, 2007

Oil prices retreated in Asia trade Tuesday, reported AFP, after threatening the symbolic 100-dollar level as concerns over tight supplies continued to support the market, dealers said.

In early morning trade New York's main contract, light sweet crude for January delivery, fell 1.02 dollars to 96.68 dollars a barrel from 97.70 dollars in late US trades Monday.

The January contract rose above 99 dollars in US trading Monday, spiking close to its intraday record of 99.29 set on November 21 before fading.

Brent North Sea crude for January delivery slipped 91 cents to 94.41.

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