Oil prices plunged to a seven-month low today as the Gulf Coast energy infrastructure appeared relatively unharmed after Hurricane Ike and traders bet that Lehman Brothers’ bankruptcy could ignite a massive liquidation of commodities. Light, sweet crude for November delivery fell $4.87, or 4.82 percent, to $96.38 a barrel on the New York Mercantile Exchange, after earlier dropping to $94.41, the lowest level since Feb. 14. A close at that level would be oil’s first settlement under $100 since March 4. For the full story visit www.latimes.com/business/la-fi-oil16-2008sep16,0,2142912.story
