Monday, March 24, 2008

Oil prices dive below US$100 per barrel

Concerns of a US recession, its impact on the rest of the world, and on oil demand growth have been looming large this week. Worries of a global slowdown in energy demand have caused crude oil prices to plunge by almost five dollars, below US$100 per barrel to US$99.20, from record peak struck earlier this week. London's Brent North Sea crude for May fell US$2.30 to US$98.42 per barrel.
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