Friday, November 21, 2008

Crude oil drops below US$50- sees a hundred dollar fall in hundred days

As recession in USA, Europe and Japan begins to set in, depressing global energy demand, crude oil has dipped to less than US$50/barrel in New York. Oil has ebbed to this level for the first time in aalmost two years, as the global economic crisis has cut back demand growth to its weakest in 23 years.

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