Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: elmatador who wrote (53721)	9/27/2004 6:40:09 PM
From: Maurice Winn	Read Replies (1) of 74559

Nigeria in trouble. Look out ElM. edition.cnn.com NEW YORK (Reuters) -- Rising tension in Nigeria has pushed U.S. crude oil futures to the psychological $50 a barrel level in New York. Prices rose 36 cents in electronic trading Monday evening to touch $50, the highest in the 21 years oil futures have traded on the New York Mercantile Exchange. That came as Nigerian rebels declared an "all-out" war against the government starting October 1. The rebels advised oil companies operating in the oil-rich Niger Delta to shut production by that date. Instability in Nigeria, the fifth largest OPEC producer, had earlier pushed the dayside open-outcry session to a record intraday high of $49.75 a barrel.

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