World oil prices dipped briefly beneath 90 dollars a barrel on Tuesday amid growing economic gloom and fears of slowing energy demand, traders said.
The price of crude oil has now plunged by almost 40 percent since striking record highs above 147 dollars per barrel in July.
London’s Brent North Sea crude for delivery in November tumbled as low as 89.80 dollars per barrel in Asian trading. The new contract later stood at 91.22, down 3.02 dollars. The October contract had expired Monday at 92.38.
Elsewhere on Tuesday, New York’s main contract, light sweet crude for October delivery, dived 2.93 dollars to 92.78 dollars a barrel.
Let’s hope they remain below $90.