January 12, 2007	Friday	Zilhaj 21, 1427

LONDON, Jan 11: World oil prices fell on Thursday, briefly sinking below $53 a barrel, owing to healthy US energy stockpiles and warm weather in the northern hemisphere, traders said.

London's Brent North Sea crude for February delivery sank to $52.60 per barrel in electronic trading -- a low last seen on June 13, 2005.

The contract then pulled back to $53.15, down 54 cents from Wednesday's close.

New York's main oil futures contract, light sweet crude for delivery in February, tumbled to $52.94 per barrel in Thursday's early electronic deals -- marking the lowest point since June 9, 2005.Later in pit trading, it stood at $53.42 per barrel, down 60 cents from Wednesday.

Oil prices have now shed about 14 per cent in value since the start of 2007, sparking speculation that the Organisation of Petroleum Exporting Countries (Opec) could soon hold an emergency production meeting.—AFP