Don't miss

Replay


LATEST SHOWS

THE DEBATE

Chaos at Westminster: UK's post-brexit leadership battle (part 1)

Read more

ENCORE!

Matthew McConaughey and ‘Free State of Jones' shine new light on American civil war

Read more

FOCUS

Zika virus spreading fast across Puerto Rico

Read more

FRENCH CONNECTIONS

Take a break: France’s love affair with vacations

Read more

THE INTERVIEW

THE INTERVIEW

Read more

INSIDE THE AMERICAS

Panama: Triple X canal for giant cargos

Read more

THE INTERVIEW

Israel’s ex-intel chief: ‘Together, we can do a lot to make Middle East a better place’

Read more

IN THE PAPERS

François Hollande: ‘Brexit result is irrevocable’

Read more

BUSINESS DAILY

Hollande pledges tax cuts ahead of France's 2017 elections

Read more

Oil prices sink to new record

Latest update : 2008-12-11

In a couple of days, OPEC will decide whether to cut oil production. Meanwhile crude prices on the New York market were down to 66.20 during the day, a price-low that was last reached in June 2007.

Crude oil prices careened lower Wednesday on news of surging US energy reserves that highlighted falling demand in a cooling global economy gripped in a credit squeeze.

A sharp rise in the dollar also put pressure on the dollar-priced commodity, making it more expensive for buyers using relatively weaker currencies.

Brent crude oil plunged five percent, to a 16-month low below 65 dollars a barrel.

In London, Brent North Sea crude for December delivery fell to 64.59 dollars, its lowest level since May 9, 2007.

New York's main contract, light sweet crude for December, slid to 66.73 dollars a barrel, a low last seen on June 14, 2007.

Date created : 2008-10-22

COMMENT(S)