Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (55400)	11/2/2004 4:14:49 AM
From: elmatador	Read Replies (2) of 74559

Big oil holding prices on eve of election to help Bush!! Oil prices fall below $50 a barrel November 02, 2004 08:52 Oil prices fell sharply last night, taking US crude below $50 ahead of the US presidential election. US light crude dipped as low as $49.30 a barrel before bouncing back to $49.60 for a loss of $2.16. US crude has spent nearly a month above $50 and peaked a week ago at $55.67. London Brent lost $2.38 to $46.60 a barrel. Energy analysts said a win for John Kerry in Tuesday's US presidential poll could mean lower crude prices than if President George W Bush is re-elected. Latest opinion polls can barely separate the two. Traders said Monday's slump was caused by news that Iraqi oil exports rose to the highest level since the war and that Nigerian oil workers had not yet decided on a strike.

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