Aug 08
Oil sinks to 3-month low Crude ends near $115 a barrel on a slumping global economy and after disrupted supply from a pipeline attack in Turkey is rerouted. Light, sweet crude for September delivery settled down $4.82 to $115.20 on the New York Mercantile Exchange. It was the lowest close since May 1, when oil finished at $112.52. ..."So much of the buying we saw since last August when oil was trading at $68 a barrel was predicated on a weak dollar," said Peter Beutel, an oil analyst with
