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  2007-8 Oil Crisis
Last updated: 21:08:19 Friday Oct 10, 2008


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  • Oil plummets below $83 on global slowdown fears
    Oil prices plummeted to a one-year low below $83 a barrel Friday in European trading as investor fears of a severe global economic downturn caused by the crisis in credit markets sparked a panicked sell-off of both crude and equities.   Nations:Australia Germany Japan   Activities:2007-8 Oil Crisis   Source:(AP)   2008-10-10

    Oil plunges to 13-month low on global slowdown
    The stunning collapse in oil markets accelerated Friday, sending a barrel of crude plunging below $78 as investors grow more pessimistic about resolving a mushrooming global economic crisis.   Nations:France U.S.   Activities:2007-8 Oil Crisis   Source:(AP)   2008-10-10

    Traders look for direction on oil market
    Oil prices looked for direction Thursday as traders weighed fears that a looming world recession will crimp demand against speculation that OPEC may cut output to keep prices from falling too far.   Nations:Algeria   People:Hugo Chavez   Activities:2007-8 Oil Crisis   Source:(AP)   2008-10-09

    Cheaper Gas Prices, but Less Demand
    Amid a credit crunch that is decimating consumer psyches and spending power, gasoline demand has dropped nearly 10% from a year ago, even as crude oil prices have fallen.   Activities:2007-8 Oil Crisis   Source:(BusinessWeek)   2008-10-08

    Oil drops 6 percent to below $88 on demand concerns
    NEW YORK (Reuters) - Oil dropped more than 6 percent to below $88 a barrel on Monday as a global market rout churned concerns that faltering fuel demand could slow further.   Nations:Brazil   Activities:2007-8 Oil Crisis   Source:(Reuters)   2008-10-06

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