Oil prices hit lowest points in almost two years

New York's light sweet crude on Wednesday slid to 56.35 dollars a barrel -- a level not seen since March 2007.

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"If these prices continue... many projects will be postponed" and there will be an "energy crisis in two years," Libya's Oil Minister Shukri Ghanem told AFP by telephone. (afp.google.com)

What I hear: panic.