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How low can it go? Economists ponder crude oil price’s bottom

Posted on 17 November 2008

From Canadianpress: A little more than four months ago, there appeared to be no end in sight to oil’s spectacular run, with some calling for prices to hit US$200 a barrel. But crude has been on a steep, virtually uninterrupted downward slide since hitting a record of US$147 on July 11.

Crude for December delivery closed at US$57.04 per barrel Friday on the New York Mercantile Exchange - a more than60 per cent decline from its all-time high….. Full Article: Source


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