This is an excerpt from an article originally published August 27, 2009 in the Wall Street Journal:
Losses deepened in crude oil futures prices early Thursday as the dollar rebounded and U.S. stock prices declined.
At 10:16 a.m. EDT, light, sweet crude oil for October delivery on New York Mercantile Exchange was down $1.47 at $69.96 a barrel, its lowest intraday level since Aug. 19.
Crude oil futures have been under heavy pressure after failing to break above $75 a barrel - the highest level since October - on Tuesday.
The contract moved in a range of $69.83 to $71.68 a barrel since Wednesday's settlement. Crude futures haven't settled below $70 since Aug. 18.
For the full article please go to Crude Drops Below $70 As Selloff Steepens
Thursday, August 27, 2009
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