Reply #25: New York crude hits near 10-month low

[ozymandius]

LONDON (AFP) - New York crude oil has hit 57.24 dollars per barrel, a low point last reached on December 19, 2005, amid market scepticism over an
OPEC output cut and before publication of weekly US energy inventories data, dealers said.

New York's main contract, light sweet crude for delivery in November, slid 35 cents early Thursday to reach the level in electronic deals before the official opening of the US market. It later stood at 57.37 dollars.

New York crude has now shed 27 percent in value since striking a record high 78.40 dollars in mid-July.

In London on Thursday, Brent North Sea crude for November delivery sank 30 cents to 58.35 dollars per barrel in electronic trading, having earlier dropped to 58.16 dollars -- remaining close to 2006 lows.

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