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2008 December 2   06:25

Oil price down to $47.97 in London and to $49.28 in New York

In London, the January Brent Crude contract was down $5.52 on December 1 to $47.97 per barrel on the ICE Futures exchange. Light Sweet Crude for January delivery fell $5.15 to $49.28 on the New York Mercantile Exchange, RBC reports.

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