Brent falls to $109.07 a barrel

December 06, 2012 - 2:35:48 am
LONDON: World oil prices dipped yesterday, reversing earlier gains on the back of the rebounding dollar and the latest crude inventories report from top consumer the United States, dealers said. Brent North Sea crude for January fell 76 cents to $109.07 per barrel in early evening deals in London. New York’s main contract, light sweet crude for delivery in January, shed 41 cents to $88.09 a barrel. The US government’s Energy Information Administration (EIA) said in a key report that US crude oil reserves had slumped by 2.4 million barrels in the week ending November 30. AFP