[lbo-talk] Sorry, Peaksters

mike larkin mike_larkin2001 at yahoo.com
Sun Sep 24 19:54:06 PDT 2006


http://today.reuters.com/news/articlenews.aspx?type=businessNews&storyid=2006-09-25T012641Z_01_SP200324_RTRUKOC_0_US-MARKETS-OIL.xml&src=rss&rpc=23

Oil drops to six-month low

TOKYO (Reuters) - Oil prices fell to a new six-month low below $60 a barrel on Monday as news of BP restoring output at Prudhoe Bay added to a sense of healthy global supplies.

U.S. light, sweet crude for November <CLc1> fell 56 cents to $59.99 a barrel in Globex electronic trading. By 0108 GMT it stood 61 cents lower at $59.94 a barrel, deepening a seven-week rout that has knocked more than $17 a barrel off prices.

Prices fell below the previous $60.00 a barrel low posted on September 20.

Previous frontmonth October was reported last week to have fallen as low as $59.80 a barrel on September 20, but detailed NYMEX trade data on its website showed the contract hit a low of $60.05 a barrel in Globex trade and $60.00 in open-outcry pit trade.

NYMEX sometimes revises detailed trade data.

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