Benchmark: How low can it go?
Clearly Monday was not particularly good news for oil companies. With futures settling below $90 per barrel, ($87.81 when Benchmark went to proofing) the industry is seeing the lowest prices since February.
Articles Tagged "economy"
Benchmark: Troubled waters
Another rough day for investors this Monday. As it became clear that the American House of Representatives would reject the authorization law for the executive’s $700 billion financial sector bailout plan, commodities began to tank. Oil futures shed more than $10 of their value during the day, dropping to $96.37 per barrel.
Cheap oil could get cheaper
Bloomber reported that currency traders are chalking up the dollar’s second straight day of gains to the hope that lower oil prices will jumpstart the American economy, which could lead to a virtuous circle: Economic growth boosts the dollar, and the strengthening of the dollar will make crude less attractive as a hedge against inflation. For full [...]
