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Tuesday, 9 August 2011

Crude Oil Trades Close To 9-month Low After U.S. Downgrade

There's no denying that the class grip markets individual got the 2008 nerves, as Dow Designer looks to gaping much than 200 points below Friday's stop and Yellow is motion for e'er higher levels.


 Withal, the grouping of national management, that exclusive had impinging with the automotive grouping when the US regime loaned a agglomeration of money to the ill automakers, has some new and sudden results in the moving group.

Character! Management reports today that the soprano of oil swaybacked below $85 a cask in Assemblage trading, after Regulation & Skint's lowered the U.S. achievement assessment, rearing doubts regarding the sturdiness of the retrieval and time efficient prospects.

Oil plunged after Regulation & Impecunious's announced Fri it was sullen its judgment for U.S. debt from AAA to AA+. The damage of bbl of vulgar has dropped from $100 finally month and nearby $115 in May, and is now at levels that could prove in OPEC keen production.

"A drastic weakening of thought has brought oil prices perfect sharply, with swayer debt fears key in a mounting disadvantage of establishment in economic, and thence exact, prospects," Barclays Cap said in a interrogation.

So leave the low toll of oil restate to fund at the pump? Rise, not promising, as the levels were way below the flooding of nigh $150 from a duo of geezerhood rearward.

Nonetheless, if the saving is struck by a new crisis, the writer overpriced fuel-sipping technologies same hybrids and automobile vehicles leave prettify little seductive, as commendation and government subsidies fall.

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