January 4, 2007

JUST LIKE A TAX CUT:

Crude Oil Plunges as Mild U.S. Weather Curbs Fuel Consumption (Mark Shenk, 1/04/07, Bloomberg)

Crude oil in New York plunged 8.9 percent in the last two days, the biggest drop since December 2004, as mild U.S. weather curbed heating-fuel use. [...]

Crude oil for February delivery fell $2.73, or 4.7 percent, to $55.59 a barrel on the New York Mercantile Exchange, the lowest close since June 15, 2005. Prices are down 12 percent from a year ago.

Posted by Orrin Judd at January 4, 2007 5:24 PM
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