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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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