Oil prices sink

Published October 21, 2005

LONDON, Oct 20: World oil prices plunged on Thursday to three-month lows on relief that Hurricane Wilma was forecast to miss battered energy infrastructures, dealers said. New York’s main contract, light sweet crude for delivery in November, plunged $2.01 to $60.40 per barrel in pit trading on Thursday, after earlier hitting $59.85 for the first time since July 28. In London, the price of Brent North Sea crude for December delivery plummeted $1.13 to $57.47 per barrel in electronic deals, after earlier touching $57.12.—AFP