A little ray of sunshine while Europe and Asia seem to be joining the US in melting down. WSJ:

Light, sweet crude for November delivery was down $4.69 to $89.19 a barrel in electronic trading on the New York Mercantile Exchange by late afternoon in Singapore. Oil prices have tumbled nearly 40% since peaking in July. The Nymex front-month contract last traded this low in early February.

It was back in November of last year that oil prices were around this level. In July of this year, oil peaked at around $147 a barrel — that seems such a long time ago now.

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