American Expatriate Costa Rica

Oil drops back to $50

Oil opened with a slight fall in New York, with difficulties to recover from the sharp decline of the previous day and the distrust on the prospects of reabsorption of the world supply.

The price of a light sweet crude (WTI), the US benchmark, was down six cents to $50.38 for the May delivery contract on the New York Stock Exchange (Nymex).

On Wednesday, the price of the barrel fell two dollars.

crhoy.com