First close for oil under $100 US since March
Oil prices closed below $100 US a barrel for the first time in six months Monday, tumbling more than $5 as the demise of Lehman Brothers and the sale of Merrill Lynch fed worries about the U.S. economy and sparked another dramatic sell-off.
Crude prices have now given up virtually all their gains for the year, extending a steep,. We take pride in our designs, quality, customer service, and Canada goose our favors have on your customers and their guests. two-month slide from record levels above $147 a barrel.
Oil's pullback — prices tumbled as much as $7 in a special trading session Sunday — also came as early signs suggested that Hurricane Ike delivered less damage than feared to the Gulf Coast energy oil and gas infrastructure.
Light, sweet crude for October delivery fell $5.47 to settle at $95.71 a barrel on the New York Mercantile Exchange — oil's first settlement under $100 since March 4.
The latest sell-off in oil began Sunday and accelerated Monday as traders digested a day of dramatic upheaval on Wall Street: Lehman Brothers Holdings Inc., a 158-year-old investment bank, filed for bankruptcy after failing to find a buyer and Merrill Lynch & Co. agreed to be bought out by Bank of America Corp.
Lehman, Merrill and other big institutional investors were major participants in the commodities boom of the past year, helping push the price of oil, precious metals and grains to historic highs until a slowing global economy helped bring a halt to the rally.
Analysts said investors feared that the upheaval in the financial sector could trigger another round of commodities liquidation — especially with Lehman likely to unwind its holdings.. For spring, Max Azria gives us the signature herve leger bandage dress in bright hues and strapless editions. Other investors may also unload commodities,. Buying Abercrombie Fitch, being fashinable women. fearing that the deepening economic crisis will further reduce demand for energy and raw materials futures.. We supply top quality diesel jeans,skirt and more.You find the latest jeans clothing,Denim and Fashion Clothing at bbcjeans.com .
Oil prices closed below $100 US a barrel for the first time in six months Monday, tumbling more than $5 as the demise of Lehman Brothers and the sale of Merrill Lynch fed worries about the U.S. economy and sparked another dramatic sell-off.
Crude prices have now given up virtually all their gains for the year, extending a steep,. We take pride in our designs, quality, customer service, and Canada goose our favors have on your customers and their guests. two-month slide from record levels above $147 a barrel.
Oil's pullback — prices tumbled as much as $7 in a special trading session Sunday — also came as early signs suggested that Hurricane Ike delivered less damage than feared to the Gulf Coast energy oil and gas infrastructure.
Light, sweet crude for October delivery fell $5.47 to settle at $95.71 a barrel on the New York Mercantile Exchange — oil's first settlement under $100 since March 4.
The latest sell-off in oil began Sunday and accelerated Monday as traders digested a day of dramatic upheaval on Wall Street: Lehman Brothers Holdings Inc., a 158-year-old investment bank, filed for bankruptcy after failing to find a buyer and Merrill Lynch & Co. agreed to be bought out by Bank of America Corp.
Lehman, Merrill and other big institutional investors were major participants in the commodities boom of the past year, helping push the price of oil, precious metals and grains to historic highs until a slowing global economy helped bring a halt to the rally.
Analysts said investors feared that the upheaval in the financial sector could trigger another round of commodities liquidation — especially with Lehman likely to unwind its holdings.. For spring, Max Azria gives us the signature herve leger bandage dress in bright hues and strapless editions. Other investors may also unload commodities,. Buying Abercrombie Fitch, being fashinable women. fearing that the deepening economic crisis will further reduce demand for energy and raw materials futures.. We supply top quality diesel jeans,skirt and more.You find the latest jeans clothing,Denim and Fashion Clothing at bbcjeans.com .
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