Oil slides to 50% off record highs
Posted: 16 October 2008 1507 hrs
SINGAPORE: Oil prices slid further on Thursday as the global credit crunch and fears for slowing energy demand took their toll, with prices now down about 50 per cent from July's record highs.
In afternoon trade New York's main futures contract, light sweet crude for November delivery, dropped US$2.39 to US$72.15 a barrel.
It slid US$4.09 at the close of floor trading on Wednesday at the New York Mercantile Exchange.
Brent North Sea crude for November delivery eased US$2.17 to US$68.63.
Brent settled down US$3.73 on Wednesday in London, and dropped below the US$70 level for the first time since June 2007 in electronic trading after the market closed.
With the oil price sliding, why is the govt not making the necessary reduction. Is it because it want to make more profits and suck all singaporean dry. Time to tell them that their time is up. The people will not be fool again
Posted: 16 October 2008 1507 hrs
SINGAPORE: Oil prices slid further on Thursday as the global credit crunch and fears for slowing energy demand took their toll, with prices now down about 50 per cent from July's record highs.
In afternoon trade New York's main futures contract, light sweet crude for November delivery, dropped US$2.39 to US$72.15 a barrel.
It slid US$4.09 at the close of floor trading on Wednesday at the New York Mercantile Exchange.
Brent North Sea crude for November delivery eased US$2.17 to US$68.63.
Brent settled down US$3.73 on Wednesday in London, and dropped below the US$70 level for the first time since June 2007 in electronic trading after the market closed.
With the oil price sliding, why is the govt not making the necessary reduction. Is it because it want to make more profits and suck all singaporean dry. Time to tell them that their time is up. The people will not be fool again
