Discussions about energy and our future

Visit Oil Drum - Discussions about Energy and Our Future

DrumBeat: July 3, 2009

Posted on July 03, 2009

Oil's record high, one year later: Crude is less than half its $145 peak of last July 3 - as a global economic slowdown zaps demandNEW YORK (CNNMoney.com) -- One year ago, on July 3, 2008, oil prices settled at a record high -- a once-unthinkable $145.29 a barrelOn Thursday, it settled at $66.73, less than half the record price, following a $2.58 decline.In between, a global demand surge morphed into a global economic slowdown -- one that would drive the price of oil as low as $33.87 in December -- followed by the partial recovery that has been underway since.A year ago, oil was driven higher ...

Original article link


biofuel , british columbia , canadian , crude , electric , ethanol , futures , gas , hydro , nuclear , oil , oil futures , petroleum , pipeline , refinery