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Commodities Briefing - Categorized | Oil, Price Watch more

Oil prices plunge below $73 a barrel

Posted on 16 October 2008

From Business24-7.ae: Oil fell for a third day on Thursday, plumbing a new 13-month low below $73 (Dh268.64) as commodity investors again rushed for the exit on fears of a collapse in demand growth as the world economy tilts toward recession.

Bleak US economic data and warnings from the US Fed that tough times are not over led Wall Street to its worst day since the 1987 stock market crash, wiping out earlier optimism fuelled by government steps to avert a financial meltdown. Japan’s Nikkei index dived 9.55 per cent in early trade…… Full Article: Source


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VRS - who has written 37214 posts on Opalesque Commodities Briefing.


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