Excerpt from: Futures and Commodity News
|
 |
| January 22, 2008 | | U.S. recession fears affect oil prices | Crude oil is plunging today in commodities trading as U.S. recession fears come to the fore rather sharply. Oil futures are falling along with global stock markets, reaching a six-week low significatly below $90 a barrel. Bloomberg reports on crude oil in commodities trading:
``Oil is beholden to the stock markets,'' said Rowan
Menzies, a commodity strategist at Commodity Warrants Australia
Pty in Sydney. ``There's no way we're not having a recession
now.'' | | |
|
|
