Oil prices plunge amid recession fears

Global recession fears sent oil prices to their lowest level for almost a year today.

Oil prices plunge amid recession fears
Wed, 08 Oct, 2008 - 14:18

Global recession fears sent oil prices to their lowest level for almost a year today.

Light, sweet crude for November delivery traded on the New York Mercantile Exchange (Nymex) dipped as low as $86.05 a barrel today amid fears the global credit crisis would weaken demand.

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