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Oil prices hit new multi-year lows
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Posted on
Dec 04 2008 4:41 AM
by
adeal
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In afternoon trade New York's main futures contract, light sweet crude for January delivery, fell 93 cents to 45.86 dollars a barrel. The contract at one point fell as far as 45.30 dollars, its lowest point since January 12, 2005, after closing down 17 cents at 46.79 dollars on the New York Mercantile Exchange Wednesday. Brent North Sea crude for January delivery dropped 1.19 dollars to 44.25 dollars after dropping to 43.80 -- its lowest point since February 20, 2005.
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