Oil Plummets on Economy Worries
12:07 PM Mon, Mar 17, 2008 | Permalink
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NEW YORK -- Oil prices fell sharply Monday, pulling back at least temporarily from record levels as investors feared that the financial crisis that forced the sale of Bear Stearns Cos. is a sign of deep economic troubles, according to the Associated Press. Crude's plunge came even as diesel prices rose to a new record above $4 a gallon, and gas prices remained high. Light, sweet crude for April delivery fell $3.08 to $107.13 a barrel in morning trading on the New York Mercantile Exchange. Overnight, prices rose as high as $111.80 before plunging as low as $105.11 in early morning Nymex trading. 
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