Dollar strengthens, US crude inventories spike, oil plunges

28-Oct-10
US crude for delivery in December has plummeted to US$80.94 a barrel, while Brent North Sea crude for December dipped to US$82.22. The US dollar has strengthened and a recent report of a spike in US crude stockpiles indicating weakening energy demand has tanked oil prices. the US Department of Energy (DoE) announced that crude inventories jumped 5 mln barrels last week. Earlier in the month, the US dollar slumped on expectations that the US Federal Reserve would decide to print more money to inject cash into its banking system and stimulate growth, diluting the value of the currency.
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Milacron 450 ton electric injection molding machine

Milacron 450 ton electric injection molding machine