NEW YORK: Oil slipped n Tuesday as the dollar hit an 2-1/2 month high against the euro on concerns that Europe's debt crisis may widen and on worries over demand in China. US crude oil for January delivery fell 62 cents to $85.11 a barrel at 12:50 P.M. EST (1750 GMT), having earlier slipped as low as $84.63. In London, ICE January Brent crude fell 53 cents to $86.81 a barrel. In late trading in New York, the euro dropped to $1.3011 from $1.3116 late Monday, sliding as low as $1.2968 earlier in the day. The euro hadn't traded below $1.30 since Sept. 16. The British pound edged up to $1.5570 from $1.5565 late Monday, while the dollar dropped to 83.63 Japanese yen from 84.24 yen. The dollar has rallied against yen this month.
