« Ford Rolls Out Eco-Friendlier Paint | Main | Oil Prices Drop Ahead of US Stocks Data »

Oil resumes drop on economy jitters

Oil fell below $72 a barrel earlier today, extending the previous session's near 5 percent plunge sparked by concern about the U.S. economy and falling equity markets, according to Reuters.

The U.S. sub-prime, or risky, mortgage crisis has rattled credit and stock markets and is spilling over into commodities, analysts say. Some investors say oil may head lower still in the near term.

Posted by Peter C. T. Elsworth  at 12:12 PM to Oil | Permalink

Comments

Post a comment

Please be civil. Vicious comments, personal attacks and profanity won't be published.

Name:

Email Address:

URL:
Remember Me? YesNo

Comments: (you may use HTML tags for style)