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February crude dips $0.36

20 January 2007 [13:59] - TODAY.AZ
NYMEX February crude fell $0.36, or 0.7 percent, to settle at $50.12 a barrel on Jan. 19. Brent crude oil for March settlement rose 1.03 dollars to $51.75 a barrel on the ICE Futures exchange in London.

Russia's Rebco fell $1 to $46 a barrel on the CME Globex (NYMEX) on January 18.
The price of Urals blend of crude was $46.86 per barrel on spot contracts yesterday, down $1.43 from January 17.

Oil has dropped 18.3 percent since the start of the year, spurred by warm U.S. weather that crimped demand for winter heating oil and bolstered inventories. The plunge marked the biggest price slide over 10 trading days since April 2003, after the U.S.-led invasion of Iraq.

The February oil contract expires Jan. 22. The more actively traded March contract was at $51.87 a barrel. Brent crude oil for March settlement rose 24 cents to $51.99 a barrel on the ICE Futures exchange in London. APA

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