October 23, 2009 12:34 AM

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Oil price slips after soaring to $ 82

World oil prices slid today on profit-taking after soaring overnight to 82 US dollar per barrel on the back of sliding US energy reserves and the weak greenback. New York's main contract, light sweet crude for December delivery, fell 90 cents to 80.47 US dollar a barrel. The contract had touched 82.00 US dollar exactly yesterday, a level last seen in October 14, 2008. Elsewhere today, Brent North Sea crude for December delivery dipped 82 cents to 78.87 US dollar, after reaching a high of 80.26 the previous day. Oil has been rising steadily in recent days, fuelled by a weak US currency, which makes dollar-priced crude cheaper for holders of stronger foreign units.

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