A new batch of lousy economic news dragged oil prices down nearly 7 percent Tuesday, as signs from across the globe pointed to a prolonged and painful recession.
Light, sweet crude for March delivery fell $2.58 to settle at $34.93 a barrel on the New York Mercantile Exchange.
A number of other commodities fell hard too as people sought less volatile investments.
Join the official YWN WhatsApp status
One Response
this was the price of domestic oil that the envirowakkos won’t let us drill for. the bigger question is what is opec’s price because that’s the one that matters.