Wednesday, December 19, 2007

After rising, oil prices dip on withdrawal of Turkish troops from Iraq

Oil prices declined on news of withdrawal of Turkish troops from Northern Iraq. Earlier, prices had increased on reactions to movement of Turkish troops into northern Iraq to flush out Kurdish rebels. New Yorks's light sweet crude for January delivery, dipped to US$90.49 after surging briefly past US$92. In London, Brent North Sea crude for February delivery settled at US$90.12.

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