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Non-Tech : Moguls Mantra to the Markets
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To: $Mogul who wrote (128)7/27/2001 12:21:30 PM
From: $Mogul  Read Replies (1) of 220
 
Crude oil prices are off about 0.8% this morning, weighed down by this morning's weaker-than-expected GDP report. The market is already concerned about demand, which has dropped significantly due to the slowdown in the global economy, and continued weak growth in the U.S. adds to those concerns. Crude oil was also boosted earlier in the week and late last week by anticipation of the OPEC output cut announced earlier this week, but selling above $27/barrel led to profit-taking. Natural gas also continues to retreat from Wednesday's 10.3% surge, declining another 1.2% after falling 4.5% Thursday. The CRB commodity index is down about 0.4% and remains near 18-month lows.
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