Thursday, January 29, 2009

Crude prices plunge on weak U.S. economic data

NEW YORK, Jan. 27 (Xinhua) -- Crude prices plunged nine percent Tuesday as weak U.S. economic data refreshed investors' concerns on energy demand.

U.S. consumer confidence dropped to a record low in January, said the Conference Board, an economic research group. The index edged lower in January to 37.7 from a revised 38.6 in December.

Meanwhile, U.S. home prices plunged in November from a year earlier. The Standard

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