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Archive Home > 2008 > December > 02 > Oil tumbles below $50 as recession called

Oil tumbles below $50 as recession called


December 2, 2008

COLUMBUS, Ohio — Oil prices tumbled below $50 a barrel Monday as National Bureau of Economic Research reported that the U.S. economy has been in a recession since December 2007. Light, sweet crude for January delivery fell more than 9 percent, or $5.15, to settle at $49.28 a barrel on....

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