Crude Oil Falls to Lowest Level in Nearly Two Years
Crude oil for delivery in December fell back $3.09 – or just over 5 percent – to $56.24 a barrel at today’s close. The price reduction comes one day ahead of a report by the International Energy Agency (IAE) suggesting that the growth in global demand will be much less than previously thought – an additional 300,000 barrels a day rather than the 700,000 originally predicted. More
Aussie and New Zealand Dollars Continue to Rack Up Losses
The Australian and New Zealand dollars were pushed downwards today as commodities – which account for half of exports – and stock markets continued to shed value. More
Bank of England Says Inflation Under 2 Percent
The Bank of England says that inflation will come under the government’s target of two percent next year and could continue to fall as the economy appears likely to fall unto a recession in 2009. More
The Loonie Follows Oil Downwards
The Canadian dollar – known as “the loonie” – marked another day of losses against the US dollar due largely to the drop in crude prices as oil makes up nearly one tenth of Canada’s exports. More
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