Oil Prices Plummet

March 15th, 2011
in econ_news

 oikl rig north sea Econintersect:  Oil prices dropped dramatically Tuesday (March 15) in both London and New York.  Spot prices declined by more than 4%.  The nearest NYMEX futures contract (April) fell by less (3.2%).  The price movement was different from Monday when oil prices fell early in the day only to rally and close a little higher.  Today the closes were near the lows of the day.

Follow up:

Prices from Bloomberg at 9 pm EST, with changes from market closes yesterday (Monday, March14, 2011).

  • WTI Cushing Spot            $ 97.18      -4.2%
  • Dated Brent Crude           $108.43    -4.5%
  • NYMEX Crude Future    $ 98.10      -3.2%

Sources:  Bloomberg, Chatanooga Times Free Press and GEI News here and here  

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