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Light, sweet crude for November delivery was down 81 cents to $95.55 a barrel in electronic trading on the New York Mercantile Exchange by mid afternoon in Singapore.
Oil prices plunged $10.52 to settle at $96.36 a barrel Monday amid worries that the financial crisis would drag on global growth and demand for oil.
That was the second-largest drop in dollar terms and the biggest percentage-wise since 2001. In the last seven drays, crude has now fallen almost $25, or 20%.
pikachu ( Date: 15-Sep-2008 11:18) Posted:
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ha ha, quite often seeing people doing their reading n writting at the void deck. electricity is free one. moreover, saving home electricity on fan or aircon, as the place there normally very windy. 
Livermore ( Date: 14-Sep-2008 22:07) Posted:
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Oil at US$101 now.
I think it will come down below $100 very soon. There is global recession and demand for energy will fall.
mazimaz10 ( Date: 14-Sep-2008 10:04) Posted:
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Going pte mean more to selling gas and electcity to us at market prices, Temasek Holding just sold a power stn for amost S$4 billion.
jackjames ( Date: 14-Sep-2008 11:23) Posted:
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mazimaz10, don't worry la... Singapore Government is a fair government (unlike others)... remember the power supply tarriff is reviewd every 3 months ? It was just reviewed in July 08, to be $ 0.2507 , so, the next round of review would be next month Oct 08... if the oil price is still below USD 110.... you will 100% expect to see the tariff coming down..
anyway, that money (tariff difference) can be saved easily if you make sure you eat 3 meals as chicken rice... (hope you know what I meant)..
Shell drop price of petrol this morning.....5cts for all grades.
scotty ( Date: 13-Sep-2008 23:21) Posted:
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Oil dips below $100 as Ike approaches
Crude futures hover near 5-month low as the hurricane heads toward the oil producing region along the Texas Gulf Coast.
By Catherine Clifford, CNNMoney.com staff writer
NEW YORK (CNNMoney.com) -- Oil prices churned Friday, briefly dipping below $100 a barrel for the first time in 5 months, as the concerns about a global economic slowdown overpowered even the fury of a massive hurricane blowing toward refineries on the Texas coast.
U.S. crude for October briefly delivery dipped to $99.99 a barrel on the floor of the New York Mercantile Exchange, which was the first time oil has fallen below the $100 a barrel mark in five months.
Oil recovered to trade down 25 cents at $100.62 a barrel. It settled down $1.71 to $100.87 a barrel on Thursday - the lowest settle price since March 24, when oil ended the day at $100.86.
Earlier, prices rose as high as $102.89. Oil prices were volatile as traders gauged what Hurricane Ike's impact would be.
"The market's total focus is on Hurricane Ike," said Phil Flynn, senior market analyst at Alaron Trading. "The market is really trying to determine how bad this storm is going to be."
cyjjerry85 ( Date: 12-Sep-2008 02:00) Posted:
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Shell took the lead in reducing pump prices on Friday, followed closely by Caltex, Singapore Petroleum Company and ExxonMobil. http://www.channelnewsasia.com/stories/singaporelocalnews/view/375508/1/.html
teeth53 ( Date: 12-Sep-2008 22:09) Posted:
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Quek4T ( Date: 09-Sep-2008 23:42) Posted:
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Light, sweet crude for October delivery fell 88 cents to $101.70 a barrel in electronic trading on the New York Mercantile Exchange by noon in Europe. The contract fell 68 cents overnight to settle at $102.58, the lowest close since April 1.
Ike, coming on the heels of last week's Hurricane Gustav, was expected to blow ashore early Saturday somewhere between Corpus Christi and Houston, with some forecasts saying it could become a Category 4 storm.
"Oil tumbles to lowest level since April 1, falling $3.08 to $103.26 a barrel, as traders expect OPEC to say it won't cut production."
oil tumble...DOW drop...cos worry economy...oil breaks new heights....DOW drop...cos of inflation hikes...
whatever oil direction it moves...now down below $100...also not too sure if DOW will spring back to life...who knows probably DOW will cheong if oil prices cheong...
crazy unpredictable market isn't it?