Financial Times FT.com

Crude prices fall below $100 mark

By Carola Hoyos in Vienna and Javier Blas in London

Published: September 9 2008 19:41 | Last updated: September 9 2008 23:24

Crude oil prices fell below the critical $100 a barrel level on Tuesday for the first time since April as hurricane Ike shifted its course away from the Gulf of Mexico and traders bet Opec would leave production unchanged.

Since jumping to an all-time high of $147.27 last July, the combination of the slowdown in the global economy, which is damping oil demand, and higher production from the Opec oil cartel have brought down oil prices 30 per cent.

You have viewed your allowance of free articles. If you wish to view more, click the button below.

Read this