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Crude oil prices break $99, then retreat

Crude oil prices rose above a record $99 per barrel Wednesday as worries about inadequate winter supplies in the Northern Hemisphere and news of refinery problems stoked bullish sentiment. Via Associated Press 9 hours ago as I blogged this.

On the other hand, US crude oil futures were lower in late trading, weighed down by a large increase in supplies at the NYMEX-oil traded delivery point in Oklahoma, and despite an overall decline in domestic crude stocks.

On the New York Mercantile Exchange, January crude last traded down $US.43 at $US96.60, says The Age, Australia, some two hours ago at the time I blogged this

Posted by Jeff Ooi on November 22, 2007 07:49 AM |

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Comments

a day will come when the price of crude oil will crash. Even Tony (what tony wants, tony gets) fernandez feels that the increase is due to excessive speculation.

Posted by: sydput [TypeKey Profile Page] | November 22, 2007 05:36 PM

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