10 December 2007 17:53 [Source: ICIS news]
LONDON (ICIS news)--NYMEX light sweet crude futures fell by more than a dollar on Monday to take the front-month January contract below $88/bbl on expectation of milder weather and concerns of a slowdown in the global economy.
By 17:30 GMT, January NYMEX crude had hit a low of $87.20/bbl, a loss of $1.08/bbl from the Friday close of $88.28/bbl, before recovering to around $87.55/bbl.
At the same time, January Brent crude on ICE Futures was trading around $87.90/bbl, having hit a low of $87.54/bbl, a loss of $1.10/bbl from the previous close.
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