Oil Dips Under $50 on Recession Fears
Investors have been brushing off news that earlier in the year would have sent prices higher. Chevron Corp. invoked "force majeure" Tuesday on 90,000 barrels a day of Nigerian production after a pipeline was breached by militants in the Niger Delta. Earlier this week, Somali pirates hijacked a Saudi supertanker carrying $100 million in crude.
In other Nymex trading, gasoline futures fell 7.30 cents to $1.034 a gallon. Heating oil lost 5.33 cents to $1.7064 a gallon, while natural gas for December delivery slid 9.9 cents to $6.644 per 1,000 cubic feet. Associated Press writers Alex Kennedy in Singapore and Christopher S. Rugaber in Washington contributed to this report.- Loading Comments...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,270.47 | 1,093.48 | 2,167.88 | 34.29 |
Oil *
75.55
|
|
UP
73.00
|
UP
6.24
|
UP
18.86
|
DOWN
0.17
|
10 Yr
3.43%
SPDR Gold
109.74
|
|
+0.72%
|
+0.57%
|
+0.88%
|
-0.49%
|
Data delayed 20 minutes |














