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Commodities Briefing - Categorized | Oil, Price Watch more

Oil prices steady despite prediction

Posted on 10 November 2008

From SMH: Oil prices were steady on Friday after the week’s giant sell-off, despite a government report showing the unemployment rate hit a 14-year high last month and predictions from an international energy agency that put the price of crude at $US200 per barrel by 2030.

Light, sweet crude for December delivery rose 27 cents to settle at $US61.04 a barrel on the New York Mercantile Exchange. But the contract dropped below $US60 in overnight electronic trading for the first time in 19 months….. Full Article: Source


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