London Brent crude was down 89 cents at $52.80.
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Oil Slipped Below $53
Oil plunged as much as 2 percent to a 19-month low under $53 a barrel on Thursday
Oil plunged as much as 2 percent to a 19-month low under $53 a barrel on Thursday amid wave of selling that gathered pace after a big build in U.S. fuel stocks.
U.S. light crude for February delivery fell to below $53 for the first time since June 2005, touching a new 19-month low for the third session running. By 0828 GMT crude was trading down 85 cents, or 1.57 percent, at $53.17 a barrel.
News of a resumption in Russian exports through a key European crude oil pipeline and technical selling after prices broke below key $55 support added to the sell-off, taking losses to 13 percent in under two weeks and prompting analysts to ask what it will take for OPEC to cut output again.
London Brent crude was down 89 cents at $52.80.
London Brent crude was down 89 cents at $52.80.
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