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Oil prices slid lower this week

Oil fell in New York, trimming the biggest weekly rise since February, as the decline in Japan’s industrial output growth countered speculation the U.S. economy and a deal to defuse the debt crisis of Europe will boost demand for fuel.
Oil futures fell as much as 0.6 percent after Japan’s factory production fell 4 percent in September from the previous month, almost double the median forecast of economists in a Bloomberg News survey. Prices surged yesterday after the U.S. economy grew in the third quarter at the fastest pace since European leaders agreed a deal to curb the euro area debt crisis.
Crude oil for December delivery declined 60 cents to $ 93.36 per barrel in electronic trading on the New York Mercantile Exchange and was at $ 93.39 at 01:07 am Sydney time. The contract advanced $ 3.76 yesterday to $ 93.96, its highest close since Aug. 1. Prices 6.9 percent higher this week, the largest increase since the period ended February 25. Oil futures prices 2.2 percent this year.
Brent oil for December delivery fell 43 cents, or 0.4 percent, to $ 111.65 per barrel

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