LONDON, Dec 31: Oil prices eased on Wednesday but managed to remain above $40 in London at the end of a tumultuous 2008 which saw crude hit record peaks before plunging to multi-year lows.

Brent North Sea crude for delivery in February dipped six cents to $40.09 a barrel in late afternoon trade on London’s InterContinental Exchange, pulling back from losses of more than one dollar early Wednesday.

New York’s main contract, light sweet crude for February, slipped 24 cents to $38.79.—AFP