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Oil drops below USD49
- Wednesday, January 26 - 2005 at 07:56
Oil prices dropped below USD49 per barrel on the forecast of warmer weather for the US Northeast and recent relative security of Iraq's installations. Light crude fell by 23 cents to USD48.58 a barrel, a drop of about USD2 in as many days. London Brent dropped 24 cents to USD45.77. Iraq continues to contribute about 1.5m bpd to world markets as the January 30 elections draw near.
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James McInerney, News EditorWednesday, January 26 - 2005 at 07:56 UAE local time (GMT+4)
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