LONDON – Oil slid below US$78 yesterday, unsettled by a wave of share market selling, but its all-time high remained within sight before US data expected to show a further drop in crude stocks in the world’s top consumer.
US crude, which ended at a record-high close of US$78,21 the previous session, was down at US$77,93 a barrel by 1222 GMT. It has been testing last year’s all-time high of US$$78,40.London Brent slipped to US$76,64.Oil was influenced by a steep fall in world stock markets, rattled by mounting casualties from a global credit crunch.It has been testing last year’s all-time high of US$$78,40.London Brent slipped to US$76,64.Oil was influenced by a steep fall in world stock markets, rattled by mounting casualties from a global credit crunch.
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