Posted AT 3:58 PM EDT on 18/07/08
Oil continues slide
NEW YORK — Oil fell to below $129 (U.S.) a barrel on Friday, extending a slide that has knocked nearly 13 per cent off last week's record peak on easing tension between Iran and the West and growing demand concerns.
Oil's losses this week are the steepest in dollar terms since futures began trading in New York in 1983 and the steepest in percentage terms since December, 2004.
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