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Commodities Briefing - Categorized | Oil, Price Watch more

Oil prices drop on demand worries

Posted on 15 October 2008

From Theaustralian.news.com.au: OIL prices fell on the risks of months of weak demand even if the US succeeds in preventing the economic downturn from deepening. Light, sweet crude for November delivery settled $US2.56, or 3.2 per cent, lower at $US78.63 a barrel on the New York Mercantile Exchange.

November Brent crude on the ICE futures exchange closed down $US2.73 at $US74.73 a barrel. Oil prices and equities moved closely together as the two markets plunged last week, but since Monday equities have received a bigger boost from a US government plan to buy shares in major banks…… Full Article: Source


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