| From Rigzone.com: In an increasingly volatile market in which assets have been consistently tumbling, commodity prices have plunged to a new low of around $89 a barrel from record highs that topped out at more than $147 a barrel in July.
The plummeting price has sparked concern among members of OPEC, with some leaders citing that the oil cartel should meet in November, a month ahead of the scheduled date in December. Crude Prices took a steep fall Oct. 8, 2008, after the U.S. Energy Information Administration reported that U.S. crude oil inventories had increased by 8.1 million barrels for the week ending October 3. Inventories rose from 294.5 million barrels to 302.6 million barrels throughout the week, according to the EIA report...... Full Article: Source
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