| Forex News Center | | | Commodities News Archive |
Commodity Daily News
Crude Oil Falls Below $75 a Barrel
Wednesday, 5 Oct 2011
Crude oil prices dropped below $75 per barrel to its lowest level in more than a year, as fears of another recession grew.
An ongoing worry for investors in recent months has been Greece's debt problems and their impact on the rest of Europe. Without more financial aid, Greece will start running out of money in two weeks. A Greek default could spread to neighboring countries and possibly trigger widespread banking problems. That would hamper world energy demand as lending slows and businesses cut spending.
