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| 2003/09/22 |
Prices continue downward momentum
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05:33:54 �.�
London, Sept 22 - Oil prices slipped slightly on Monday as the effect of the previous week's falls continued to be felt amid relief that hurricane Isabel had left US oil infrastructure untouched.
The price of Brent North Sea crude oil for November delivery dropped nine cents a barrel to 25.23 dollars in early London trading. New York's reference light sweet crude October contract was 27 cents lower at 26.76 dollars per barrel in out-of-hours e lectronic deals.
Trade was largely subdued, with most traders looking ahead to this week's meeting of industry cartel OPEC in Vienna and the latest update on US stockpiles of crude and gasoline.
"There were some very big sizes being sold by one particular company on Friday (in London) and that momentum has helped continue to push the market down this morning," said Gni trader Paul Goodhew.
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