Oil prices plunged to a seven-month low Monday 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.
Crude has fallen more than $50 _ or 35 percent _ from its all-time trading record of $147.27 reached July 11 as a global economic slowdown continues to weigh on …
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