Oil Falls to Eight-Month Low in New York

- August 8th, 2011

Bloomberg reports that Oil dropped to the lowest price in more than eight months after Standard & Poor’s downgraded the U.S.’s credit rating.

Bloomberg reports that Oil dropped to the lowest price in more than eight months after Standard & Poor’s downgraded the U.S.’s credit rating.

The market news is quoted as saying:

Oil dropped to $82.52, the lowest intraday price since Nov. 24. Prices have retreated 8.5 percent this year.

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