Oil prices plunged below US$111 a barrel as Hurricane Gustav weakened as it neared Louisiana, after rising by almost three dollars to US$118 a barrel earlier in the session. The stronger dollar, the ccontinuing decline in consumer demand and the market's recent down trend also helped the decline in oil prices as light, sweet crude for October delivery dipped by over four dollars to settle at US$111.
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Thursday, September 04, 2008
Oil prices tumble as Hurricane Gustav weakens
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