Steep Drop Of Crude Prices

Crude oil prices plunged on Thursday, falling to their lowest levels in more than a month, ending a short rally straight after Bush?s election victory.

US light crude futures dropped $2.03 to $48.85 a barrel on the NYMEX. Brent crude in London?s IPE closed down $1.61 to $45.95.

The reason of prices? steep drop is rising crude stockpiles in the US.