After a ten dollar collapse in two days, oil prices slide further down

18-Jul-08
Following the past two days ten dollar slump, Thursday witnessed yet another fall in oil prices on a forecast that slowing economic growth will lead to a fall in demand for crude. New York's main oil contract, light sweet crude for August delivery dipped to US$133.81 a barrel. London's Brent North Sea oil for September fell to US$135. A larger than expected rise in US US oil and gasoline inventories also contributed to oil price fall on Wednesday.
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