Posted AT 3:47 PM EST on 05/08/08
Oil slips as low as $118 a barrel
NEW YORK — Oil prices sank as low as $118 (U.S.) a barrel Tuesday on the growing belief that a U.S. economic slowdown and high energy costs are curbing consumer demand for gasoline and other petroleum products.
Crude's decline is giving Americans more relief at the pump. A gallon of regular gasoline in the United States on average fell another penny overnight to $3.
The full text of this article has 814 words.
To continue reading this article, you will need to purchase this article.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
| Market | Change | Value |
|---|---|---|
| Data delayed 15 minutes | ||
| S&P/TSX | +147.55 | 11,025.90 |
| DJIA | -17.53 | 9,771.91 |
| S&P 500 | +2.53 | 1,045.41 |
| Nasdaq | +8.12 | 2,057.32 |
| Stock Profile | |
|---|---|
|
|
U.S. stock futures head higher
Investors await key U.S. data on manufacturing and housing
-
Video:
Japan takes it on the chin
|
MOST POPULAR 
Most Popular
| Rank | Headline |
|---|---|
| 1. | Canadian dollar on a roll 9:44 AM
|
| 2. | Magna poised to take wheel at Opel 1:38 PM
|
| 3. | Royal Bank loses $50-million 9:39 AM
|
| 4. | CanWest skips interest payment to conserve cash 1:43 PM
|
| 5. | U.S. economic slump eases 8:45 AM
|
| 6. | Gold jumps above $970/oz as dollar weakens 6:36 AM
|
| 7. | Macquarie snaps up Tristone for $130-million 28/05/09 6:36 PM
|
| 8. | Oil surges above $65 6:35 AM
|
| 9. | UK data signals worst of downturn may be over 6:41 AM
|
| 10. | Markets set to end May on a better note 10:16 AM
|
BARRIE McKENNABig Business under siege
ROB CARRICKQtrade clobbers the big boys
MARCUS GEEPanic and blame won't help cure the flu