The Lavan oil refinery quay, seen in 2004, in the Lavan island in Iran. Oil prices tumbled Wednesday under 45 dollars, hitting their lowest point since February 2005, as weak US economic data sparked renewed concern about slowing global energy demand.(AFP/File/Behrouz Mehri)
From Yahoo News/AFP:
LONDON (AFP) – Oil prices tumbled Wednesday under 45 dollars, hitting their lowest point since February 2005, as weak US economic data sparked renewed concern about slowing global energy demand.
On London's InterContinental Exchange, Brent North Sea crude for delivery in January slumped as low as 44.87 dollars a barrel .
New York light sweet crude for January fell to 46.26 dollars -- also its lowest level since February 2005 -- on the New York Mercantile Exchange.
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