Light, sweet crude for February delivery dipped to US$99.24 a barrel in Asian electronic trading on the New York Mercantile Exchange, midmorning in Singapore. Oil prices dipped from US$100 a barrel in anticipation of a drop in inventories in the weekly U.S. petroleum supply snapshot. Price volatility can be attribute to growing violence in Africa's leading oil producing nation, a weaker U.S. dollar and a stance that global demand for oil will outstrip supplies.
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Thursday, January 03, 2008
Oil prices ease marginally in Asia after touching US$100 per barrel
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