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Strategies & Market Trends : Aardvark Adventures

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From: ~digs	9/15/2006 5:12:35 AM
	of 7944

Oil fell sharply to near $63 a barrel on Thursday, extending a nearly 20 percent slide over the past month as bulging U.S. inventories countered geopolitical worries. Natural gas prices fell below $5 per million British thermal units for the first time in two years. today.reuters.com The recent sharp drop in the global price of crude oil could mark the start of a massive sell-off that returns gasoline prices to lows not seen since the late 1990s — perhaps as low as $1.15 a gallon. Should oil traders fear that this downward price spiral will get worse and run for the exits by selling off their futures contracts, Verleger said, it's not unthinkable that oil prices could return to $15 or less a barrel, at least temporarily. seattletimes.nwsource.com

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