The stunning collapse in oil markets accelerated on Friday, sending a barrel of crude plunging below US$78 (RM273) as investors grew more pessimistic about resolving a mushrooming global economic crisis.
Oil hasn't been this cheap in 13 months -- a rare silver lining for consumers amid a rapidly imploding financial landscape. Crude prices have almost been cut in half since surging to a record near US$150 barrel recently. Energy experts believe prices could go even lower.
"There's so much fear out there and that's really gripping the oil market. People are just afraid to hold a position so they're closing out and selling off," said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts.
"As long as this financial crisis continues, we could see prices go down into the $60 range," Lynch said....
Minyak dunia di pengaruhi pasaran, minyak kt Mesia naik macam ribut nak turun macam siputttt..Mcm ade perompak dan mangkuk hayun kat belakang yang punye agenda. Tu sebab lambat turun kot...
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