April 27, 2006	Thursday	Rabi-ul-Awwal 28, 1427

LONDON, April 26: World oil prices slid on Wednesday in reaction to news that US gasoline and crude stockpiles fell by less than expected last week, dealers said. New York’s main contract, light sweet crude for delivery in June, sank 83 cents to $72.05 per barrel in pit trading.

In London, the price of Brent North Sea crude for June delivery shed 91 cents to $72.30 per barrel in electronic deals.

The Department of Energy (DoE) said gasoline or petrol reserves, which have tumbled in recent weeks heading into the US summer driving season, declined by a further 1.9m barrels to 200.6 million in the week to April 21.

The fall was less than analysts’ forecasts of a 3.0-million-barrel drop. Crude stocks fell by 200,000 barrels to 345 million barrels — three times less than the 600,000-barrel decline forecast by market watchers.

“The statistics were bearish,” said Societe Generale analyst Deborah White.—AFP