Crude oil continued to fall on Thursday as the ongoing financial turmoil and economic slowdown exacerbated concerns that energy demand would drop.
Light, sweet crude for November delivery fell 4.56 U.S. dollars to settle at 93.97 dollars a barrel on the New York Mercantile Exchange.
The U.S. Senate approved the financial rescue plan Wednesday night, but record high unemployment numbers and falling factory orders delivered a strike to the market on Thursday. Investors became more concerned about the likely economic recession, which would force consumers and businesses to cut energy demand.
The dollar gained strongly against the euro on Thursday, which also helped to push down the oil prices.
In London, Brent crude for November delivery dropped 4.80 dollars to 90.53 dollars a barrel on the ICE Futures Exchange.
Source:Xinhua
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