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Oil falls below $ 50 a barrel

Posted by Mai on November 21st, 2008

Manila Bulletin Online
Oil falls below $ 50 a barrel

Department of Energy calls for bigger rollbacks
OPEC ministers meet in Cairo on falling prices

LONDON (AFP) – Oil prices sank under 50 dollars a barrel in London on Thursday, reaching the lowest levels for three and a half years, as the market was plagued by weak energy demand.

Brent North Sea crude for delivery in January tumbled to 48.54 dollars a barrel – last reached in May 2005. The contract had closed on Wednesday at 51.72 dollars.

Read rest of this story here:
Manila Bulletin Online

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