The week began on a very sour note for the American auto industry, with the US government warning to discontinue aid to General Motors and Chrysler if they are unsuccessful to present better restructuring plans. As the global economy continues to be shaky and the automotive industry flounders, oil prices have dipped to be around US$50. New York’s light sweet crude for May delivery, that dropped by almost 4 dollars on the first day of the week, is around US$49. Brent North Sea crude for delivery in May stands at US$48.6.
01-Apr-09 
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