Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Dealer who wrote (42476)	9/23/2001 10:55:31 PM
From: Dealer	Respond to of 65232

Crude Oil Falls as Recession Worries Outweigh Supply Threats By Thomas Hogue Singapore, Sept. 24 (Bloomberg) -- Crude oil fell as much as 1.4 percent as concern about a possible recession and slowing demand outweighs worries that supplies may be disrupted by U.S. retaliation for terrorist attacks in New York and Washington. President George W. Bush hasn't identified any oil-producing nation as a possible target in a U.S. war against terrorism. Without a clear threat of supply disruptions, crude oil prices have fallen 8.4 percent since oil trading reopened Sept. 14 on the New York Mercantile Exchange, as demand for jet fuel falls and airlines cut back schedules around the world. Organization of Petroleum Exporting Countries ``supplies do not seem to be under threat at this stage and demand is weakening significantly in some sectors,'' said Simon Games-Thomas, head of energy at N.M. Rothschild in Sydney, in a daily energy commentary. Crude oil for November delivery fell as much as 35 cents, or 1.4 percent, to $25.62 a barrel in electronic trading on Nymex. It recently traded at $25.64. Trading, originally scheduled to run from 5 p.m. to 8 p.m. New York time, was delayed by a technical fault, a trader said. It will now run from 8 p.m. to 10 p.m. The expected military retaliation by the U.S. for the attacks Sept. 11 on the World Trade Center and the Pentagon have damped hopes for an economic recovery in the U.S. The Dow Jones Industrial Average has fallen 17 percent since then, and U.S. airlines have reduced flights and cut 78,000 jobs. ``Jet fuel demand is in a black hole as the global travel industry suffers and some U.S. airlines are talking in terms of reducing scheduled by up to 25 percent,'' Games-Thomas said. Jet fuel accounts for about 8 percent of U.S. crude oil demand.