Oil falls below $59 a barrel
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Oil falls below $59 a barrel

November 11, 2008 – 11:56 am – No Comment

If you read the headlines, you may see a headline or two that mentions oil falling. The reason is the same every time… People are worried about a “widespread recession” and there is a “drop in demand.”

Here’s the news about the drop without the speculation as to why:

December delivery for U.S. light, sweet crude fell to just over $58 a barrel around 10:00 CST. When it hit $58.32, it had hit its lowest level since March 2007.

It’s nice to see an almost 2 year low. I’ll just wait for OPEC to ruin it

Jeremy
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