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Oil slides on global recession fears

9:43 AM Wed, Oct 15, 2008 |
Peter C. T. Elsworth    Email

Oil slides on global recession fears

By GEORGE JAHN
Associated Press Writer




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VIENNA, Austria -- Oil prices slid Wednesday on concerns that a massive bank bailout by the U.S. and Europe won't keep the global economy from slipping into a severe slowdown, according to The Associated Press.

Beyond fears that demand would slow, expectations that the latest snapshot of U.S. crude supplies would show additional builds also weighed on markets.

Light, sweet crude for November delivery was down $2.69 to $75.94 a barrel in electronic trading on the New York Mercantile Exchange by afternoon in Europe. The contract

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