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Posted By STONERS 12 months ago in Business & Finance
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Oil dived under $50 a barrel on Thursday to hit the lowest level since May 2005, deepening losses as financial markets reflected ever lower confidence in the world economy and evidence mounted of falling fuel demand.

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    STONERS12 months ago

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    "U.S. crude fell $3.26 to $50.36 a barrel by 1536 GMT after earlier touching $49.75, marking the lowest level since May 25, 2005, when prices hit $49.58."

    "London Brent crude shed $2.82 to $48.90 a barrel."

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      Tcaros12 months ago

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      I guess I was right about Bush pusing the "oil leases."

      The market was artificially inflated so they could lift offshore drilling. Except this time the DEMS didn't fall for Bush's tricks.

      I guess we don't need to "drill baby drill." We need to "stop illegal price fixing baby, stop illegal price fixing."

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        doppich12 months ago

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        And Goldman has finally given up on its prediction of $200 oil.
        http://blogs.barrons.com/stockstowatchtoday/2008/1...

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          reallypsst12 months ago

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          It now levels the playing field and the corrupt oil speculators who controlled the market are running for cover, but the big oil barons never lose thats america!

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