Commodities: Oil slides as Iran tensions ease
Sun 20 Jul 2008

LONDON (SHARECAST) - The price of crude oil fell for the fourth day in succession Friday to its lowest level since 5 June, capping the worst week for “black gold” in more than three years.

Reduced tension between the US and Iran eased fears over future supplies, while the slowdown in the US economy and a rise in inventories also acted as a drag on the oil price.