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Price of Oil and Oil Based ProductsThe price of oil rises and falls on a daily basis, below is a real time view of the current price of oil. We also keep a Hand updated list of past oil prices available for your convenience/school reports/etc.Oil & Energy Related Blogs2008 oil recap. and what is next (6-22-09)It took only 5 months for the price of oil to plummet from $150 to under $40 in the second part of the year. Meanwhile oil consumption did not even decrease 10%, so what is the real cause of this collapse you may ask?
Hedge funds. Let me explain. Cost of gas falls for first time in two months (6/22/09) Retail gasoline prices retreated Monday for the first time in nearly two months and benchmark crude prices tumbled about 4 percent. The World Bank said the global economy would shrink more than previously stated and burgeoning supplies of crude and gasoline finally appeared to grab hold of energy prices that since early May have appeared to shake off market fundamentals. Benchmark crude for July delivery dropped $2.62 to settle at $66.93 on the New York Mercantile Exchange. The July contract expires later Monday, and most of the trading already has shifted to the August contract, which lost $2.52 to settle at $67.50. [Read More At MSNBC.com]
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