Oil Prices Mixed in Asian Trade
Wednesday, December 24, 2008 at 6:58 pm
SINGAPORE: World oil prices were mixed in Asian trade on Christmas eve Wednesday with the current economic gloom weighing down investors’ mood, analysts said.
New York’s main contract, light sweet crude for February delivery, rose nine cents to 39.07 dollars a barrel after closing 93 cents down at 38.98 dollars in US trade Tuesday.
Brent North Sea crude for February delivery fell six cents to 40.30 dollars. The contract settled Tuesday 1.09 dollars lower at 40.36 dollars.
Crude prices have sunk more than 70 percent since hitting a record high over 147 dollars in July amid fears the rapid slow-down of the global economy will hit energy demand.
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