Gas prices Fall on futures markets
Oil and gasoline futures slumped amid more signs of economic weakness in the United States. On the New York Mercantile Exchange, gasoline was off nearly 8 cents a gallon at $1.3625 US.
Victor Shum, an analyst at Purvin & Getz in Singapore, said:
I expect continued downward volatility in oil prices, and also a near-term price range of $60 to $70 US. The unemployment data due out later this week will reinforce the economic situation in the United States.
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Wed, Nov 5, 2008
Post by Melissa Pistilli, Gas Senior Reporter