11 November 2008 10:19 [Source: ICIS news]
SINGAPORE (ICIS news)--Crude prices fell more than $2/bbl on Tuesday after worries over the global economy and a stronger US dollar cancelled out gains made the previous day on Saudi supply cuts and China’s stimulus package.
At 08:09 GMT on Tuesday, December NYMEX light sweet crude futures were trading at $60.90/bbl, down $1.51/bbl on Monday’s settlement level, after hitting a low of $60.29/bbl, down $2.12/bbl.
At the same time, December Brent on ?xml:namespace>
Concerns over the effectiveness of government initiatives to stave off a global economic recession helped to push down stock markets in Asia following an earlier slide in the
Worries had been heightened by news on Monday that General Motors (GM) shares slumped to their lowest levels in 62 years.
The fall in GM shares raised dangers that the company could fail if it is not saved by the
New data on
($1 = €0.78)
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