January 10, 2007	Wednesday	Zilhaj 19, 1427

LONDON, Jan 9: Global oil prices plunged to their lowest points in more than 19 months on Tuesday as warm weather in the northern hemisphere stoked concerns over weak demand for heating fuel, analysts said.

The development came despite the ongoing disruption of Russian oil exports to Europe, they added.

Brent North Sea crude for February delivery sank $1.32 to $54.28 per barrel in electronic deals, after earlier hitting $53.64 - the lowest point since mid-June 2005.

Meanwhile, New York’s main contract, light sweet crude for delivery in February, tumbled $1.29 to $54.80 per barrel in pit trading. The contract earlier hit $53.88 -- the lowest also since June 2005.

Crude futures have slumped by almost 12.0pc since the start of 2007 on falling demand for heating fuel, particularly in the US but also in Europe.—AFP