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LONDON, Sept 26: New York oil plunged under $89 per barrel on Wednesday, nearing a two-month low on demand concerns arising from the eurozone debt crisis which is still plaguing Greece and Spain, dealers said.
The market also dived as fresh data sparked fresh concern over the health of the US economy.
New York’s main contract, light sweet crude for November, dived to $88.95 per barrel — the lowest point since August 3. It later stood at $89.40, down $1.97 from Tuesday’s closing level.
Brent North Sea crude for delivery in November retreated $1.65 to $108.80 a barrel in late afternoon trade in London.—AFP
