December 16, 2011 12:11 PM

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Crude price dives in Asian trade

Crude dived in Asian trade today. New York's main contract, light sweet crude for delivery in January, fell eight cents to 93.79 dollars per barrel. Brent North Sea crude for February delivery shed 65 cents to 103.60 dollars on its first trading day.Crude fell as investors remained cautious about prospects for economic growth in Europe and China.

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