P508ORACLE 508 Mon20 Jan C4 1703:05   THE      Mon 16.00    £ Index 76.9 (-1.0) Fri close 77.9 £1 = $1.4165 (-2.20 cents) £1 = $1.4385 Sterling comes under renewed pressuqe as spot oil prices head for $20 a barrel and talk of an $18 price abounds in the weak market. With the pound down more than three pfennigs against the mark, the sterling index is close to the level which prompted the recent rise in base rates. There is considerable speculatign that a further hike in bank rates will prgve necessary unless sterling strenghtens.  City headlines 500 BARGAIN TRAVEL BRITISH RAIL *** 125