Crude-oil futures close below $90--

Crude-oil futures close below $90

2008-01-23 10:10:19 [ Big Normal Small ] 　Comment

Crude-oil futures closed below 90 dollars a barrel on Tuesday as an emergency rate cut by the Federal Reserve failed to assuage market fears of an economic recession in the Unite States.

Crude oil for March delivery ended down 71 cents, or 0.8 percent, at 89.21 dollars a barrel on the New York Mercantile Exchange.

February crude, which is the front month contract but has smaller volume than the March contract, closed down 72 cents at 89.85 dollars a barrel, the lowest level in over six weeks of a front month contract.

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