Oil plunges to 13-month low on global slowdown
NEW YORK - The stunning collapse in oil markets accelerated Friday, with a barrel plunging below $78 as investors grow more pessimistic about a mushrooming global economic crisis.
A barrel of oil hasn't been this cheap in 13 months — a rare silver lining for consumers amid a rapidly imploding financial landscape.
Crude's steep losses came as Wall Street headed for its worst weekly drop ever. The Dow Jones i...
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