Oil prices dropped on Tuesday to their lowest level in 20 months on, since March 2007, as one of the worst economic slowdowns in recent months continued to slower consumption around the world. Crude oil futures on the New York Mercantile Exchange settled at $59.33 a barrel, down 5 percent. Prices have plummeted 59 percent since hitting their summer peak of $145.29 a barrel in July. Oil demand in the United States dropped over the summer after gasoline prices soared above $4 a gallon earlier this... read more
