Posted AT 7:31 PM EST on 02/09/08
Oil slides as global economic outlook dims
NEW YORK — Oil prices plunged to the lowest level in five months Tuesday, falling to within sight of $100 (U.S.) a barrel on signs that Hurricane Gustav only grazed U.S. energy infrastructure in the Gulf of Mexico.
Light, sweet crude for October delivery fell $5.75 to settle at $109.71 a barrel on the New York Mercantile Exchange, after earlier dropping as low as $105.46.
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