The Car and Truck Fleet and Leasing Management Magazine

Oil Prices Continue to Retreat After Last Week's Historic High

January 07, 2008

LONDON --- News about a slowing economy prompted oil prices to drop by more than two dollars in afternoon trading today, reported Thomson Financial. This afternoon, New York's WTI crude for February delivery dropped $2.48 to $95.21 per barrel, retreating further from last Thursday's historic high of $100.09 per barrel. Factors contributing to last Thursday's high included declining oil inventories, rising demand in developing countries, and geopolitical tensions that pose a threat to supplies. But since then, concerns about the global economy have changed the price trend. Data released last Friday confirmed that unemployment in the U.S. has risen to 5 percent, and job creation has slowed considerably.
Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

Sponsored by

William Cieslak is responsible for PHH Arval’s remarketing operations for cars, light, and heavy trucks, as well as managing PHH’s network of new vehicle dealers.

Read more

Fuel Saving Strategies Survey

View our 2008 survey to benchmark your fleet's fuel and green strategies with other fleets.

Fuel Calculator

A managed fuel program can help you save time and money and gain control over the way you fuel your vehicles. Determine your potential savings by using our fuel calculator.
Launch Fuel Calculator 

Fuel Prices

U.S. Gasoline and Diesel Fuel Prices.

Launch Fuel Prices 

Up Next

More From The World's Largest Fleet Publisher