LONDON, Nov 25: Oil prices slid on Tuesday as traders banked profits following sharp gains won a day earlier, analysts said.

Crude futures had closed up almost five dollars on Monday after a government bailout of ailing American bank Citigroup weighed on the US currency, making oil cheaper for holders of foreign money, pushing up demand.

Light sweet crude for delivery in January dropped 2.50 dollars to 52.00 dollars a barrel on the New York Mercantile Exchange. On London’s InterContinental Exchange, Brent North Sea crude for January fell 1.82 dollars to 52.11 dollars a barrel in late trade. Oil prices rose “significantly Monday reacting to another bailout on Wall Street,” said Victor Shum from the energy consultancy Purvin and Gertz.—AFP