Oil Dives to $63 on Unexpected Stockpile

  • Oil Dives to $63 on Unexpected Stockpile

    Oil Dives to $63 on Unexpected Stockpile

    Thursday, 30th July 2009
    The price of crude oil plummeted nearly 6% on the New York Mercantile Exchange Wednesday, settling just above $63 a barrel. While investments in the energy commodity have been spurred by hope of an economic turnaround, US inventories surged today, pointing to a decrease in demand.