Oil prices have disintegrated by 78% since peaking to record highs above US$147/barrel in July, to four-year lows in London in volatile pre-Christmas trade amid a pessimistic economic outlook.
On Lonndon's InterContinentalExchange (ICE), Brent North Sea crude for February delivery tumbled to US$38.
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Friday, December 26, 2008
London Brent crude slides to US$39: currently at 4 year lows
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