Bank Of Baku

Oil prices slip on expectations

Oil prices slip on expectations
# 27 January 2009 09:20 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. Oil prices slipped 1.6 percent on expectations a government report on Wednesday will show another rise in swelling U.S. crude inventories as a deepening downturn pummels consumption.
The decline in crude oil was tempered by evidence the Organization of Petroleum Exporting Countries was complying with the bulk of its output cut agreements.
U.S. crude fell 74 cents to settle at $45.73 a barrel, after rising to a session high of $48.59. London Brent dipped $1.41, to $46.96 a barrel.
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