Commodity Online
SINGAPORE : World oil prices dipped below $ 46 a barrel in early Asian trade Thursday as lack of demand continued amid more dismal economic news from around the world.

New York’s main futures contract, light sweet crude for January delivery, fell 82 cents to $45.97 a barrel t 11.00 a.m in Singapore.
On Wednesday, the contract closed down 17 cents at $ 46.79 dollars on the New York Mercantile Exchange.

Brent North Sea crude for January delivery dropped 99 cents to $44.45, near its morning low of 44.35, after closing unchanged at $45.44 Wednesday in London.

Oil prices have plunged by about 70 percent since striking record highs above 147 dollars in July, pulled down by a widening global economic slowdown that weighs on demand.


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