London Brent crude slides to US$39: currently at 4 year lows

25-Dec-08
Oil prices have disintegrated by 78% since peaking to record highs above US$147/barrel in July, to four-year lows in London in volatile pre-Christmas trade amid a pessimistic economic outlook. On London's InterContinentalExchange (ICE), Brent North Sea crude for February delivery tumbled to US$38.63 (Rs1,893) : the lowest level since 29 December 2004. Light sweet crude for delivery in February dipped to US$37.62 a barrel on the New York Mercantile Exchange. Market players expect crude oil stocks to have dipped by 200,000 barrels in the past week; and distillates (including heating oil), to slip by 100,000 barrels. There is no sign of any economic recovery that will push up oil demand.
  More News  Post Your Comment
{{comment.Name}} made a post.
{{comment.DateTimeStampDisplay}}

{{comment.Comments}}

COMMENTS

0

There are no comments to display. Be the first one to comment!

*

Name Required.

*

Email Id Required.

Email Id Not Valid.

*

Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.
*

Message Required.

Click to Change image  Refresh Captcha