Thursday, October 22, 2009
Oil down in Asian trade
2:07 PM | 
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Thursday, October 22, 2009
SINGAPORE: Oil eased in Asian trade Thursday after surging to 82 dollars, its highest level in a year as investor sentiment received a boost from a decline in US energy reserves, analysts said.
New York's main contract light sweet crude for December delivery sank 11 cents to 81.26 dollars a barrel. The contract hit 82 dollars in Wednesday trade, its highest level since October 2008. Brent North Sea crude December delivery eased two cents to 79.67 dollars a barrel.
Both contracts had closed higher Wednesday, lifted by a drop in US energy stocks which were seen as a sign of improved demand in the world's biggest energy user.
SINGAPORE: Oil eased in Asian trade Thursday after surging to 82 dollars, its highest level in a year as investor sentiment received a boost from a decline in US energy reserves, analysts said.New York's main contract light sweet crude for December delivery sank 11 cents to 81.26 dollars a barrel. The contract hit 82 dollars in Wednesday trade, its highest level since October 2008. Brent North Sea crude December delivery eased two cents to 79.67 dollars a barrel.
Both contracts had closed higher Wednesday, lifted by a drop in US energy stocks which were seen as a sign of improved demand in the world's biggest energy user.
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