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Commodities Briefing - Categorized | Oil, Price Watch more

Oil drops to lowest price since 2010

Posted on 04 October 2011

Oil started the final quarter of 2011 with a whimper. The benchmark price dropped below $78 per barrel to its lowest level in more than a year, as fears of another recession grew. Oil fell along with broad declines on Wall Street: The Dow Jones industrial average, the S&P 500 and the Nasdaq composite were each down about 2 percent.
Investors are concerned about a pair of recent announcements that point to weaker demand and even lower energy prices this year. Greece, at the center of the European debt crisis, said over the weekend that it will miss its lower spending targets despite severe cost-cutting……………………………………….Full Article: Source


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VRS - who has written 37629 posts on Opalesque Commodities Briefing.


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