Lehman fear looms over crude oil futures Crude oil futures continued its slide and hit lower circuit on the Multi Commodity Exchange after it dipped below 92 dollar a barrel in the overseas markets on fears that the worsening credit crisis may hurt global economy.
Crude, for far-month December contract tumbled by 5.77 per cent to Rs 4,330 per barrel at the MCX counter, clocking business volume of one barrel. Similarly, November contract fell sharply by four per cent to Rs 4,332 per barrel in a business volume of 289 barrels, while October contract moved down 3.86 per cent to Rs 4,304 per barrel in a business volume of 5,288 barrels. Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Analysts said the weakness in crude oil futures prices was mostly attributed to a fall of over four dollar, or four per cent to 91.79 dollar a barrel, a seven-month low in the global markets after Lehman Brothers Holdings collapsed, raising concerns of deepening global financial crisis. Refineries along the Gulf of Mexico, escaping major damage from Hurricane Ike, too weighed on the crude prices, they said. Meanwhile, crude has declined 37 per cent from a record 147.27 dollar a barrel on July 11 as high prices and slowing global economic growth reduced energy demand. -- Visit site at – http://investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Forums- http://forums.investorline.co.in/ Iwebs Open Source Web Publishing Platform - http://webs.investorline.co.in/iwebs/ --~--~---------~--~----~------------~-------~--~----~ Get latest market updates & search internet right from your browser-download our toolbar here- http://investorline.ourtoolbar.com/ Visit our site at – http://investorline.co.in/ Newsroom: http://newsroom.investorline.co.in/ Learning Center- http://learning.investorline.co.in/ Mutual funds - http://mutualfunds.investorline.co.in/ Life Insurance - http://insurance.investorline.co.in/ Investor Journal - http://research.investorline.co.in/ Newscatcher- http://catcher.investorline.co.in/ Interested in Financial Planning-Let us Contact you- http://spreadsheets.google.com/viewform?key=pb_z4f1_zGMg4iBBFT3-SWQ&email=true If you like the site then promote it here- https://www.freetellafriend.com/tell/?url=http://investorline.co.in/blogs/news Create your own free blog on- http://investorline.co.in/blogger Visit this group at http://groups.google.com/group/india-investor -~----------~----~----~----~------~----~------~--~---
