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Oil prices ends flat last week

01 December 2008 08:55 (UTC +04:00)

Oil prices ended flat Friday with OPEC officials sending mixed messages about a production cut before a regularly scheduled meeting in December, AP reported.
After tumbling earlier in the day during an abbreviated session on the New York Mercantile Exchange, light, sweet crude for January delivery settled down a penny at $54.43.
In London, January Brent crude rose 36 cents to settle at $53.49 on the ICE Futures exchange.
Crude jumped 9 percent Monday, fell 7 percent Tuesday, and rose more than 7 percent Wednesday. The week has been marked by light trading, which tends to be more volatile.
For the week, crude was up about 9 percent from the settlement price last Friday.
Oil prices fluctuated between $50 and $55 this week, pausing after a fall of more than 60 percent since reaching a record $147.27 in mid-July.
OPEC oil ministers left the output quotes unchanged until next meeting.