MW: Crude futures fall to a more than one-year low
By Myra P. Saefong
SAN FRANCISCO (MarketWatch) -- November crude fell $3.02, or 3.8%, to $75.61 per barrel Wednesday on Globex after the Organization of the Petroleum Exporting Countries cut its oil-demand forecast for 2009, fueling concerns that the financial crisis will cause a sharp slowdown in economic growth. "Evidence of slowing demand can be seen everywhere," said John Kilduff, an analyst at MF Global, in a note to clients. Crude futures traded as low as $74.92, the lowest intraday price for the November contract since early October 2007.
