Monday, October 22, 2007

Oil prices recoil to US$87 in Asia

Oil prices recoiled to mid 87 dollar levels in Asia from record highs amid expectations that todays' fuel report will show a rise US crude and gasoline inventories. Light, sweet crude for November delivery dropped 10 cents to $87.51 a barrel in Asian electronic trading on the New York Mercantile Exchange by midday in Singapore.

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