Oil's record high, one year later - CNNMoney.com

Oil's record high, one year later Crude is less than half its $145 peak of last July 3 - as a global economic slowdown zaps demand.

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NEW YORK (CNNMoney.com) -- One year ago, on July 3, 2008, oil prices settled at a record high -- a once-unthinkable $145.29 a barrel On Thursday, it settled at $66.73, less than half the record price, following a $2.58 decline. In between, a global demand surge morphed into a global economic slowdown -- one that would drive the price of oil as low as $33.87 in December -- followed by the partial recovery that has been underway since.

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