Oil prices fell through $100 a barrel yesterday, slumping to the lowest level in seven months amid worries that the turmoil on Wall Street would deepen the global economic slowdown.
The fears about lower commodities demand pushed the Reuters-Jefferies CRB index, a benchmark for raw materials prices, to the lowest level since January and down more than 26 per cent from July's all-time high.
Traders rushed to cut their exposure to risky assets such as commodities to hoard cash.
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