Oil prices tumbled on Thursday as recession fears gripped markets.
On the New York Mercantile Exchange (NYMEX), light sweet crude for December fell dropped $US4.53 to $US60.77 a barrel.
On London's InterContinental Exchange (ICE), Brent North Sea crude for delivery in December dived more than $US4 to $US57.46 dollars a barrel - its lowest level since February 2007.
COMEX
Gold for December delivery lost $US10.20 to $US732.20 on the New York Mercantile Exchange.
December silver fell 40 cents to $US10.055 an ounce on the NYMEX, while December copper fell 9.35 cents to close at $US1.7255 a pound.
