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Oil prices near $107

24 September 2008 09:01 (UTC +04:00)

Baku. Vugar Mustafayev - APA-Economics. Oil prices rose slightly in Asian trade today but the market was dominated by worries that a US government rescue plan may not be enough to save the economy from slower growth and falling energy demand.
New York’s main contract, light sweet crude for November delivery, rose 46 cents to $107.07 a barrel after a drop of $2.76 to $106.61 at the close of floor trading last night at the New York Mercantile Exchange.
Brent North Sea crude for November delivery rose 49 cents to $103.57 a barrel. The contract dropped $2.96 last night to settle at $103.08 in London after a jump of $6.43 on Monday.
Oil prices have already fallen heavily from record levels above $147 in early July, on worries the global economy is slowing and causing a dent in energy demand.
On Tuesday morning, crude for November delivery added to $107.10 a barrel in electronic action while Brent reached $103.60.