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March 15, 2008
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Saturday
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Rabi-ul-Awwal 6, 1429
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Oil slips
LONDON, March 14: Oil slipped on Friday as investors took profits from a record rally that pushed prices to a record $111 in the previous session.
One dollar down is not very significant, and it would need a lot more weakness to shake out the speculators, said Christopher Bellew at Bache Financial in London.
US crude for April delivery fell 37 cents to $109.96 a barrel by 1710 GMT in volatile trade. It touched a record for the seventh time in a row the previous session.
London Brent crude for April, which expires later in the day, hit a record of $108.02 a barrel before easing back to $106.97.
—Reuters
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