Oil prices dip as uncertainty prevails over financial bailout package

26-Sep-08
New concerns have arisen over the financial bailout package - sending oil prices lower. Uncertainty shrouds the receipt of Congressional approval to the US$700 bln financial plan, dashing hopes and pushing oil prices one dollar lower. New York's main contract, light sweet crude for November delivery, dipped to US$106.7 a barrel, after climbing by over two dollars past US$108 on Thursday. Brent North Sea crude for November delivery dipped to US$103.48.
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