In a reaction to volatile equity markets yo-yoing due to prolonged uncertainity of US economy, Monday saw world oil prices dip in trading in Asia, on lingering uncertainly over the US economy. New York's main contract, light sweet crude for delivery in March, dipped to US$90.16 per barrel. Brent North Sea crude for March slipped to US$90.40 a barrel. This downward correction can be attributed to the weak close of Wall Street last week and lowe Asian markets.
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Wednesday, January 30, 2008
Oil prices dip in Asian trading
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