Crude oil prices continue sliding to $94 per barrel, on demand concerns

www.chinaview.cn 2008-10-03 05:55:04

NEW YORK, Oct. 2 (Xinhua) --

Crude oil continued to fall on Thursday as the ongoing financial turmoil and economic slowdown exacerbated concerns that energy demand would drop.

Light, sweet crude for November delivery fell 4.56 U.S. dollars to settle at 93.97 dollars a barrel on the New York Mercantile Exchange.

The U.S. Senate approved the financial rescue plan Wednesday night, but record high unemployment numbers and falling factory orders delivered a strike to the market on Thursday. Investors became more concerned about the likely economic recession, which would force consumers and businesses to cut energy demand.

The dollar gained strongly against the euro on Thursday, which also helped to push down the oil prices.

In London, Brent crude for November delivery dropped 4.80 dollars to 90.53 dollars a barrel on the ICE Futures Exchange. 　

Editor: Mu Xuequan

Fair Use Notice

This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.