日韩午夜精品视频,欧美私密网站,国产一区二区三区四区,国产主播一区二区三区四区

Home / International / World Tools: Save | Print | E-mail | Most Read | Comment
Crude oil settles below 50 dollars
Adjust font size:

Crude oil fell to lowest level in more than three years below 50 U.S. dollars a barrel on Thursday as global economic downturn pared energy consumption.

Light, sweet crude for December delivery dropped 4 dollars to settle at 49.62 dollars a barrel on the New York Mercantile Exchange. Price slid to as low as 48.64 dollars a barrel, the lowest level last seen in May 2005.

In London, Brent crude for January delivery fell 2.17 dollars to 49.55 dollars a barrel on the ICE Futures Exchange.

"The price of oil continues to demonstrate weakness as the commodity has decisively violated the psychologically important price level of 50 dollars per barrel," Wall Street Strategies' senior research analyst Conley Turner told Xinhua. "At this juncture, the oil patch and oil related securities appear to present a lot of value to investors."

With economic growth in United States, Japan and Europe contracting, global oil demand is heading for the first annual decline in 25 years. Oil prices have lost nearly 66 percent since record high of 147.27 dollars a barrel reached in mid-July.

"However, this does not mean that it cannot get any cheaper," Turner said. "At this juncture, oil traders are following the stock market in the serve correction that is unfolding."

U.S. stocks tumbled Thursday as the Labor Department reported a highest jobless level in 16 years and Citigroup Inc's shares shed another 25 percent as investors questioned the bank's ability to withstand billions of additional loan losses in 2009.

Libya's top oil official told press on Thursday that OPEC may decide to take an another production cut at its meeting in Cairo next week.

But many analysts doubt if the OPEC supply cut can stable the oil price as its previous decision to reduce output had little impact.

"Below 49 dollars per barrel, oil is likely to trade in the low40 dollars in the next few weeks," Turner said.

(Xinhua News Agency November 21, 2008)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- Crude oil continues to fall on economic concerns
- World's biggest crude oil tanker ready for delivery
- Crude oil plunge good for China's economy
- China produces 16m tons of crude oil in July
- China expects crude oil reserve of 108.6 bln tonnes
- Crude oil import up 11% in first half
Most Viewed >>
- Punahou's connection with China
- Gov't soldiers' daily life after fighting in E DRC
- China, Peru conclude FTA talks
- China, Peru to sign trade deal
- Indian navy destroys pirate ship
> Korean Nuclear Talks
> Reconstruction of Iraq
> Middle East Peace Process
> Iran Nuclear Issue
> 6th SCO Summit Meeting
Links
- China Development Gateway
- Foreign Ministry
- Network of East Asian Think-Tanks
- China-EU Association
- China-Africa Business Council
- China Foreign Affairs University
- University of International Relations
- Institute of World Economics & Politics
- Institute of Russian, East European & Central Asian Studies
- Institute of West Asian & African Studies
- Institute of Latin American Studies
- Institute of Asia-Pacific Studies
- Institute of Japanese Studies
主站蜘蛛池模板: 吉安市| 东阳市| 大同市| 平乡县| 南木林县| 太谷县| 靖宇县| 水城县| 盈江县| 长子县| 芷江| 马山县| 左贡县| 门源| 化隆| 浦江县| 抚远县| 丹棱县| 南通市| 清新县| 凤山县| 淮阳县| 团风县| 平罗县| 通榆县| 盱眙县| 阜南县| 邛崃市| 临泽县| 察雅县| 仪征市| 长治县| 阿勒泰市| 宜城市| 和硕县| 呼伦贝尔市| 新干县| 濉溪县| 平阳县| 拉萨市| 长治市|