Oil prices plunge again

Oil prices plunge again
# 31 October 2008 08:55 (UTC +04:00)
Baku. Vahab Rzayev - APA-Economics. Light, sweet crude for December delivery fell $1.54 to settle at $65.96 a barrel on the New York Mercantile Exchange.
In London, December Brent crude fell $1.76 to $63.71 a barrel on the ICE Futures exchange.
Oil prices have fallen 55 percent since peaking above $147 a barrel in mid-July.
The decline in crude prices comes one day after oil prices jumped $4.77, or 8 percent, to $67.50 a barrel after the Fed cut its key interest rate, trying to stem the worst U.S. financial crisis in decades.
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