Tuesday, December 11, 2007

Oil prices decline by over 10%

Oil prices have slipped further on revelation of details by a November US jobs report that turned out to be less robust than expected. Light, sweet crude for January delivery fell to US$88.12 a barrel in electronic trading on the New York Mercantile Exchange by noon in Europe. January Brent crude dipped to US$88.28 a barrel on the ICE Futures exchange in London.

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