Oct 22 08:27 AM US/Eastern
World oil prices slid on Thursday on profit-taking after soaring overnight to 82 dollars per barrel, striking a one-year peak on the back of sliding US energy reserves and the weak greenback, traders said.
New York's main contract, light sweet crude for December delivery, fell 1.28 dollars to 80.09 dollars a barrel. The contract had touched 82.00 dollars exactly on Wednesday -- a level last seen on October 14, 2008.
Elsewhere on Thursday, Brent North Sea crude for December delivery dipped 1.21 to 78.48 dollars, after reaching a high of 80.26 the previous day.
Both contracts had risen in value on Wednesday, lifted by a drop in US energy stocks, which was seen as a sign of improved demand in the world's biggest energy user.
Data released Wednesday by the Department of Energy showed US gasoline reserves sank by 2.3 million barrels in the week to October 16. That was more than the 800,000 barrel drop expected by most analysts.
Oil has been rising steadily in recent days, fuelled by a weak US currency, which makes dollar-priced crude cheaper for holders of stronger foreign units.