Oil eases amid profit-taking after reaching all-time highs
Analysts warn upward trend remains 'intact'
By Agence France Presse (AFP)
Saturday, July 05, 2008
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Oil prices fell Friday on profit-taking, a day after surging to record highs on the back of a weak dollar and concerns over tight supplies, traders said. Brent North Sea oil for August delivery slid by $1.22 to $144.86 a barrel in electronic deals. New York's main oil contract, light sweet crude for August delivery, shed $1.19 to $144.10.
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