Oil price under 40$

[Benn]

The London stock has registered a price for Brent oil at 39.77$ per barrel. This figure is the lowest one for the last four years. At the same time, the New York stock exchange registered this figure at 39.92 dollars.

The reduction in price is explained by the diminution of demand for the product, due to the world economic crisis. Particularly, the recession is felt in the biggest oil consumer countries, especially USA.
Oil futures quotes were influenced negatively

[willyoumind]

From the peak price, $147 to under the $40, it's definitelty a huge spike indeed, Benn.

Some said that the oil prices will be predicted to keep falling until the first quarter of 2009...

[Steven]

Who needs these barrels. I wanna see essential drops in prices within Europe. 140/40 = 3.5 times. So I want to see the fuel price falls down 3.5 times.