From Yahoo News/AP:
HOUSTON – Crude prices tumbled Wednesday following a raft of economic news that painted an ugly picture of the nation's economy, suggesting demand for energy will continue to erode.
Light, sweet crude for February delivery fell $3.63 to settle at $35.35 in a shortened day of trading. Prices fell as low as $35.13 just before the market closed for the holiday.
Investors expecting more evidence of slowing U.S. energy demand got a bit of a surprise as the Energy Department reported crude inventories dropped last week.
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My Comment: Russia, Venezuela, Iran .... the usual suspects .... are now being hit harder than we are in the West by the drop in oil prices. Their greed coupled with the financial crisis has ruined their budgets and medium term prospects.
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