PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: PROLIFE who wrote (633246)	9/27/2004 3:01:22 PM
From: tejek	Read Replies (1) of 769670

U.S. oil near $50, supply fears shift to Nigeria Monday, September 27, 2004 6:28:55 PM reuters.com (Updates prices) By Richard Mably LONDON, Sept 27 (Reuters) - Oil prices rose to record highs Monday near $50 a barrel for U.S. crude as Nigeria emerged as the latest focus for worries about supply in an already tight worldwide energy market. U.S. light crude <CLc1> rose 82 cents to $49.70 a barrel to mark their loftiest level in the 21 years of trade on the New York Mercantile Exchange. London Brent, the benchmark for European crude imports, rose 79 cents to a record $46.12 a barrel. "We now think that (U.S.) crude oil could reach $61 before a meaningful sell-off occurs," investment bank Morgan Stanley said in a report to its clients. Growing concerns over militancy in Nigeria, OPEC's fifth-largest producer, are compounding worries about supply security in Russia, Saudi Arabia and Iraq. fxstreet.com

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