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Oil at 14 week low
- Middle East: Wednesday, August 13 - 2008 at 09:37
The price of crude oil continues to fall as reports show that producers have dropped output amidst falling US demand, according to Bloomberg. Crude oil for September delivery was at $113.32 a barrel in after-hours electronic trading on the New York Mercantile Exchange. Though oil is down over 23% on July highs it is still 58% higher than a year earlier.
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StaffWednesday, August 13 - 2008 at 09:37 UAE local time (GMT+4)
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