London (Platts)--25Nov2008

Front-month NYMEX light sweet crude fell over $3/barrel Tuesday, reacting
to a temporarily stronger US dollar and paring some of the gains made on
Monday.

The front-month January NYMEX light sweet crude contract sank $3/b to
$51.06/b, then fell further to an intraday low of $50.79/b.

At the same time, the January ICE Brent futures contract moved down over
$3/b to $50.87/b, hitting an intra-day low of $50.60/b at 1305 GMT.

"This is a counter-reaction to yesterday's move," a London-based broker
said. "A lot of yesterday's move was about the dollar but now it is stronger.
There has been no oil-specific news to move the price."

In the background, all the stock exchanges in Europe were up in early
afternoon trading. In the minutes after the rapid fall in oil prices the US
dollar then weakened sharply, and crude futures firmed again in tandem.

At the time of the fall in crude oil futures the ICE dollar index was at
86.42 points. It then sold off rapidly to hit 85.70 points at 1338 GMT.