Oil dips below $47

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New Member
Oct 10, 2006
Up North......
Middle East: 4 hours, 37 minutes ago
After falling more than $2 on Tuesday, oil prices have now plunged $100 below their record peaks reached less than four months ago. New York light sweet crude for January dropped $2.32 to close at $46.96, the first time the benchmark contract has settled below $47 since May 2005.

Oil may fall to a single digit, says economist
Middle East: 53 minutes ago
The sharp decline in oil prices due to the ongoing economic crisis could result in drastically low oil prices ranging between $15-$20 per barrel or even a single-digit per barrel, according to Simon Williams, chief economist, Gulf markets at HSBC. He said the worst-case scenario would be similar to the 1990s Asian crisis, reported Arab News.

Lets see how far they will slide..........

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