Blog
September 11th, 2008

Oil Prices Down to $100.87

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Crude prices dropped nearly two dollars this afternoon settling at $100.87 a barrel:

U.S. light, sweet crude [US@CL.1 100.67 -1.91 (-1.86%)] fell $1.71 to settle at $100.87 a barrel after dipping as low as $100.10, the lowest since early April.

London Brent crude [GB@IB.1 97.49 -1.48 (-1.5%)] also fell after dropping to a six-month low of 96.99.

Downward pressure came from a rising U.S. dollar, which scaled a one-year high against the euro, and a report from the International Energy Agency (IEA) earlier in the week lowering its oil demand growth forecasts due to a slowing global economy.

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HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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