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News, September 2008


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Editorial Note: The following news reports are summaries from original sources. They may also include corrections of Arabic names and political terminology. Comments are in parentheses.


Crude oil plunges below $96 despite Ike consequences

Editor's Note:

If it is just market forces, crude oil prices should have gone up. But it has always been non-market speculations that have been driving prices up. The following news is evidence to this fact.


Crude oil plunges below 96 U.S. dollars 2008-09-15 21:46:46  

    NEW YORK, Sept. 15 (Xinhua) --

Crude oil tumbled below 96 U.S. dollars a barrel Monday morning as the bankruptcy of Lehman Brothers sparked concerns about demand and Hurricane Ike spared the Gulf refineries.

    Light, sweet crude for October delivery slid 5.63 dollars to 95.55 dollars a barrel as of 09:35 EST (1335 GMT) on the New York Mercantile Exchange.

Editor: Bi Mingxin

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