Crude prices fall as stocks plunge worldwide

08:43, May 10, 2010      

Email | Print | Subscribe | Comments | Forum 

Crude prices fell Friday as stock markets plunged across the world on concerns about economic and financial instability in Europe.

Investors fear a European debt crisis, beginning with Greece, would spread over the euro zone and hurt the recovery of the global economy.

Energy prices fell as equity markets plunged worldwide after the Dow suffered its biggest-ever intraday point drop on Thursday. The free-fall may have been exacerbated by erroneous trades that showed some shares briefly fell to nearly zero.

Commodities prices also dragged down the U.S. dollar, as the greenback rose to a 14-month high against the euro.

Light, sweet crude for June delivery fell 2 U.S. dollars to settle at 75.11 dollars a barrel on the New York Mercantile Exchange.

In London, Brent crude lost 1.56 dollars to settle at 78.27 dollars on the ICE futures exchange.



  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 26, a resident passes by a flower terrace decorated for the coming National Day. (Xinhua/Hang Xingwei)
  • The photo, taken on Sept. 26, shows the SWAT team ready for the joint exercise. (Xinhua/Wangkai)
  • Two metro trains in Shanghai collided Tuesday afternoon, and an identified number of passengers were injured in the accident, the Shanghai-based reported. Equipment failures were believed to have caused the crash on the Line 10 subway, Xinhua quoted local subway operator as saying.
  • An employee at a gold store in Yiwu, located in east China's Zhejiang province, shows gold jewelry on Monday.(Xinhua/Zhang Jiancheng)
  • Tourists ride camels near China's largest desert lake Hongjiannao in Yulin, north China's Shaanx Province, Sept. 24, 2011. Hongjiannao is shrinking as a result of climate change and human activities, and may vanish in a few decades. Its lake area, which measured more than 6,700 hectares in 1996, has shrunk to 4,180 hectares. Its water level is declining by 20-30 centimeters annually and its water PH value has risen to 9.0-9.42 from 7.4-7.8. (Xinhua/Liu Yu)
  • Actors perform royal dance at the Gyeongbok Palace in Seoul, Sept. 27, 2011. A ceremony commemorating the 38th South Korea Sightseeing Day was held in Gyeongbok Palace on Tuesday. (Xinhua/He Lulu)
Hot Forum Discussion