Posted AT 4:05 PM EDT on 04/01/07
Oil prices tumble for second day
Oil prices fell to their lowest level since June, 2005 Thursday amid continued balmy temperatures during what should be the coldest months of the year and a report that shows U.S. stockpiles of heating oil and gasoline are building.
Light sweet crude for February delivery tumbled $2.73 (U.S.), or 4.7 per cent, to $55.59 a barrel on the New York Mercantile Exchange Thursday, its lowest close since June, 2005. On Wednesday, crude futures plunged $2.73 to $58.
The full text of this article has 622 words.
To continue reading this article, you will need to purchase this article.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
| Market | Change | Value |
|---|---|---|
| Data delayed 15 minutes | ||
| S&P/TSX | -130.53 | 13,512.66 |
| DJIA | +29.88 | 11,632.38 |
| S&P 500 | +5.19 | 1,282.19 |
| Nasdaq | +21.92 | 2,325.88 |
| Stock Profile | Sponsored by: |
|---|---|
 |
MOST POPULAR 
Most Popular
| Rank | Headline |
|---|---|
| 1. | TD Bank abandons U.S. brand battle 12:48 AM
|
| 2. | Kinross bids $1.2-billion for Aurelian 7:33 AM
|
| 3. | Ford unveils dramatic makeover plans 23/07/08 8:35 PM
|
| 4. | EnCana earnings drop 16 per cent 7:42 AM
|
| 5. | Ford posts $8.7-billion loss 7:27 AM
|
| 6. | Commodities losing altitude 7:28 AM
|
| 7. | Petro-Canada profit climbs 77 per cent 8:21 AM
|
| 8. | Potash profit more than triples 7:36 AM
|
| 9. | Potash profit more than triples 8:25 AM
|
| 10. | Oil holds steady above $124 6:25 AM
|
6The Law Page
- Lawyer finds gaping hole in securities law
- Plus: A fierce litigator who was a 'gentleman'
Video Pick
- Henry Paulson speaks
- The U.S. Treasury Secretary speaks on the U.S. housing crisis
Business incubator
- Remarkable? Prove it
- The Company: Remarkable Surfacing. The Problem: Breaking into a crowded marketplace. The Plan: Rebrand and reposition.
Magazine
- Who will benefit from drilling offshore Brazil?
- Just a handful of firms in line for potential bonanza
KONRAD YAKABUSKIGas police could use a refresher course on competition
ROB CARRICKManulife shows Mawer the love with promotion of small firm
DEREK DeCLOETWhere have all the good buyers gone?
MARCUS GEESpeak2Me on Chinese TV
BARRIE McKENNA AND NORVAL SCOTTThe energy up there