Oil Prices Resume Fall On Renewed Fear
Source: Agencies |
August 6, 2011, Saturday
|
Print Edition
Print Edition
Oil dropped nearly 2 percent yesterday as investors shrugged off US job gains and focused on lingering concerns about the global economy.
Benchmark West Texas Intermediate crude for September delivery fell US$1.70 to US$84.93 per barrel on the New York Mercantile Exchange.
Prices pulled back from an early surge after a somewhat positive government jobs report. The news helped push crude as high as US$88.32 before it tapped off.
Investors are still rattled by the stock market's plunge on Thursday, when the Dow Jones industrial average fell 513 points, or more than 4 percent, to its worse decline since the 2008 financial crisis. Oil dropped by an even greater amount, losing nearly 6 percent, to a six-month low on Thursday.
Benchmark West Texas Intermediate crude for September delivery fell US$1.70 to US$84.93 per barrel on the New York Mercantile Exchange.
Prices pulled back from an early surge after a somewhat positive government jobs report. The news helped push crude as high as US$88.32 before it tapped off.
Investors are still rattled by the stock market's plunge on Thursday, when the Dow Jones industrial average fell 513 points, or more than 4 percent, to its worse decline since the 2008 financial crisis. Oil dropped by an even greater amount, losing nearly 6 percent, to a six-month low on Thursday.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
