| From Zawya.com: Fears of a global economic meltdown have overtaken the oil markets. Further contraction is a reality -- now looming large on the horizon -- and the crude markets could not be far behind in taking the cue.
Prices continued to fall on concerns that even a US bailout of its ailing financial sector would not be enough to restore the declining oil demand. Markets lost nearly 10 percent in New York in response to the dramatic rejection of the $700-billion bailout plan by US legislators last Monday, dropping more than $10 a barrel to slip below $100, and they appear poised to keep falling...... Full Article: Source
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