Friday, July 10, 2009


BANZAI7 NEWS--Crude oil futures ended below $60 a barrel for the first time in nearly two months Friday as the prospects for a resurgence in fuel demand looked increasingly bleak. Light, sweet crude for August delivery settled 52 cents, or 0.9%, lower at $59.89 a barrel on the New York Mercantile Exchange, ending below $60 a barrel for the first time since May 19.

Analysts at Goldman Smith attributed the drop to a lack of coordinated effort between market participants and a glitch in its trading program.

In related news, GM reportedly sold 9,300 Camaros during the month of June. While it comes with a big V-8 as an option, the base model has a 6-cylinder engine that gets a whopping 22 miles per gallon in combined city and highway driving.

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