Oil drops below $60 a barrel
The price of oil has fallen below $60 a barrel. That is a six-month low which will translate into lower prices at the pumps. Hopefully the downward trend of oil prices will continue.
Oil prices fell to a new six-month low below $60 a barrel on Monday as news of BP restoring output at Prudhoe Bay added to a sense of healthy global supplies.
U.S. light, sweet crude for November fell 56 cents to $59.99 a barrel in Globex electronic trading. By 0108 GMT it stood 61 cents lower at $59.94 a barrel, deepening a seven-week rout that has knocked more than $17 a barrel off prices.
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Posted under National News, World Events
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Wow.. and just in time for the Primaries. That’s um.. amazing.. or something.
somehow I’m betting gas prices will rise again after the Fall elections. Meanwhile, health care costs continue to skyrocket.