Oil prices on the world's main commodity exchanges declined Wednesday morning on news that ratings agencies had lowered their outlook on Greek debt.
On the New York Mercantile Exchange, a WTI crude for June delivery slid 78 cents to hit $81.66.
London's Brent North Sea crude for June fell 57 cents to $85.21 per barrel, having earlier struck $87.75, a level last seen in October 2008.
During the day on Tuesday, crude prices withdrew as investors waited to see whether the US Federal Reserve would set its interest rate at a record low. WTI dropped $1.76 to $82.44 per barrel on Nymex, while Brent fell $1.05 on the London exchange to $85.78 per barrel.
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