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Oil prices slipped lower on Tuesday after two sessions of deep losses as mild weather dampened demand across the northern hemisphere. US light crude oil slipped 26 cents to $59.21 a barrel, while london Brent crude fell 31 cents to $57.73. On Monday, US crude touched an intraday low of $58.60 a barrel, the weakest level since late July,and prices had also fallen by more than a dollar on Friday. US demand for heating oil was expected to be about 42% below normal, as temperatures remained mild in the Northeast, the worlds largest oil consuming region, US National Weather Service said. |
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| Posted : 11/9/2005 |
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