| 08.01.2009 - Oil price plunge hauls down the rest of sector |
| From FT: Oil prices plunged $5 back below $50 a barrel yesterday, dragging most of the rest of the commodities sector lower, after the US government reported a hefty increase in crude oil and products inventories. The surge in stocks was particularly large at the delivery point of the Nymex West Texas Intermediate futures oil contract in Cushing, Oklahoma, which helped to push the US benchmark lower versus the European benchmark Brent..... Full Article: Source |