In London, March Brent crude lost 10 cents to US$88.65 a barrel on the ICE Futures exchange.
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Oil Prices Dropped Below $90
Concerns about the economy were stoked by a U.S. Commerce Department report Thursday
Oil prices fell further Friday on worries that the U.S. economy would weigh on crude demand.
Concerns about the economy were stoked by a U.S. Commerce Department report Thursday that construction of new homes fell nearly a quarter in 2007, the largest drop in 27 years.
US Light, sweet crude for February delivery dropped 41 cents to US$89.72 a barrel in Asian electronic trading on the New York Mercantile Exchange by midday in Singapore. The contract fell 71 cents to settle at US$90.13 on Thursday.
In London, March Brent crude lost 10 cents to US$88.65 a barrel on the ICE Futures exchange.
In London, March Brent crude lost 10 cents to US$88.65 a barrel on the ICE Futures exchange.
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