As speculators bail out, oil could hit $50 a barrel

10/6/2008 | Age (Melbourne, Australia), The

The value of the 19 commodities listed in the Reuters-Jefferies CRB Index has fallen 43% since its July 3 peak -- on track for the largest annual decline since 2001. With commodities speculators rushing for the exits, oil could drop to $50 a barrel next year, according to an Oct. 2 report from Merrill Lynch. "A lot of the demand for commodities has been speculation, and now that demand is falling away because of fear taking hold in the market," says one economist.

View Full Article in:

Age (Melbourne, Australia), The

Published in Brief:

SmartBrief Job Listings for Transportation

Job Title Company Location
Fleet Controller - Technical Operations Maintenance Control
United Airlines
Chicago, IL
Lead Revenue Management Analyst
Hawaiian Airlines
Honolulu, HI
Planner - Line Maintenance
United Airlines
Chicago, IL
Sr. Communications Specialist * Grassroots Coordinator * PAC Coordinator * Benefits Specialist
The Air Line Pilots Association, International
Herndon, VA
TAESL - Planner Production Control
American Airlines
Fort Worth, TX