Saturday, October 11, 2008

Oil plunges to 13-month low on global slowdown

The stunning collapse in oil markets accelerated Friday, with a barrel plunging below $78 as investors grow more pessimistic about a mushrooming global economic crisis.

A barrel of oil hasn't been this cheap in 13 months - a rare silver lining for consumers amid a rapidly imploding financial landscape.
 
 

Posted by Peacedream

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