Wednesday, October 15, 2008

Oil falls to 13-month low on economic weakness

Oil prices fell on Wednesday to their lowest in 13 months dragged down by expectations that economic weakness.

Today, it touched a low a session low of $74.6.

London Brent crude was $4.03 down at $70.50 a barrel.

Stock markets also fell sharply and the dollar weakened against the yen as global recession fears returned to center stage.

No comments: