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Oil falls to 8-month low below $90 a barrel
Oil fell below $90 a barrel on Monday to its lowest in eight months, pressured by expectations that the global credit crisis will bring a sharp fall in oil demand.U.S. light crude for November delivery fell $4.28 a barrel to $89.60 by 7:44 a.m. EDT, its fourth day of losses. It touched a session low of $88.89, its lowest since early February. Prices have dropped nearly 40 percent from a peak of $147.27 on July 11. London Brent crude was down $3.99 at $86.26 a barrel. ... Posted by: ed 2008-10-06 |
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