Commodities - The Coming Bull Market Message Board

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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (909)	11/2/2001 4:06:49 PM
From: craig crawford	Read Replies (1) of 1643

Crude Oil Falls Below $20 on Market Gloom money.iwon.com Friday November 2, 10:20 AM EST NEW YORK (Reuters) - - U.S. crude oil prices fell below $20 a barrel for the first time in more than 27 months on Friday, amid bad economic news topped by the biggest loss of jobs in more than two decades. Crude oil for December delivery on the New York Mercantile Exchange (NYMEX) plunged to $19.85 a barrel, down 54 cents on the day and the lowest since July 22, 1999. NYMEX crude futures have now sustained losses of more than $10 a barrel or nearly 34 percent since the immediate aftermath of the devastating Sept. 11 attacks on New York and Washington. The U.S. job market suffered its heaviest blow in more than two decades in October, shedding 415,000 jobs as the full impact of the attacks struck an economy already in the early stages of recession, the U.S. Labor Department reported on Friday. The report came on top of gloomy economic data earlier this week that the U.S. economy contracted in the third quarter by 0.4 percent, the deepest decline in a decade.

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