Date:11/10/2008 URL: http://www.thehindu.com/2008/10/11/stories/2008101155241600.htm

Business

Oil closes below $80-mark

SINGAPORE: Oil prices fell four dollars in Asian trade on Friday after a ‘bloodbath’ in world equity markets, with traders increasingly convinced that a global economic slowdown will hurt energy demand, dealers said. Brent North Sea crude sank below the $80-mark for the first time in about a year.