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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks

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To: trustmanic who wrote (1777)	11/7/2001 1:20:36 AM
From: bill	Read Replies (1) of 11633

Crude oil for December delivery fell as much as 46 cents, or 2.3 percent, to $19.56 a barrel on the New York Mercantile Exchange, the lowest price since July 22, 1999. Prices have dropped 29 percent since the terrorist attacks of Sept. 11 and are down 40 percent from a year ago. The contract was recently 12 cents lower at $19.90. In London, Brent crude oil for December delivery fell as much as 55 cents, or 2.8 percent, to $18.89 a barrel on the International Petroleum Exchange, the lowest price for a most- active contract since July 1999. The oil minister from Qatar, the smallest producer in the Organization of Petroleum Exporting Countries, said non-members risk a plunge in prices to late-1998 levels of around $10 a barrel if they don't help remove at least 1 million barrels a day from the world oil market. OPEC, which pumps about 40 percent of the world's oil, will not keep reducing supply if others just replace it with their production, he said. ``OPEC wants to jar their memories and remind the other producers how painful $10 oil was,'' Irvin said.

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