NEW YORK (Reuters) - Crude oil prices fell more than 5.4 percent on Friday in the biggest one-day slide since 2004 as dealers turned their focus to rising supply levels and weakening global demand. A rebound in the U.S. dollar encouraged the sell-off, applying downward pressure across the commodities markets by weakening the purchasing power of buyers using other currencies, dealers said.
Friday, August 22, 2008
Oil falls 5.4 percent in biggest drop since 2004
Amazing what a serious push for domestic drilling can do...
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