Oil plunges below US$92 in Asia on US credit fears


  • Business Premium
  • Tuesday, 16 Sep 2008

SINGAPORE: Oil prices plummeted Tuesday in Asia, falling below US$92 a barrel as investors feared the U.S. credit crisis that brought down brokerage giant Lehman Brothers will drag on global economic growth and restrain demand for crude.

Light, sweet crude for October delivery tumbled US$3.77 to US$91.94 a barrel in electronic trading on the New York Mercantile Exchange midday in Singapore.

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