06 May '11, 12am

US crude oil futures plunge below US$100: NEW YORK - US crude oil futures plunged nearly 9 per... #crude #oil #risk

NEW YORK - US crude oil futures plunged nearly 9 per cent to end below US$100 ($124) a barrel on Thursday, the lowest since mid-March, in a scorching commodities sell-off ignited by worries about economic growth and tighter monetary policies. Crude oil futures have fallen four straight days, posting the biggest four-day percentage loss for a year, as investors quickly reverted to their focus on fundamentals. Data showing the number of Americans filing for jobless benefits rose to an eight-month high last week and productivity growth slowed in the first quarter stoked the day's early selling. A survey by the National Federation of Small Businesses showed that hiring by small businesses almost ground to a halt in April added to the day's bearish crop of economic data. The latest reports on the pulse of the economy came just a day before the government releases its April jobs...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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