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Article: Crude Price Drops 71[cent] on News of Cease-Fire in Middle East.(New York Mercantile Exchange)(Brief Article)(Statistical Data Included)
- Article from:
- The Oil Daily
- Article date:
- November 3, 2000
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Crude Price Drops 71[cent] on News of Cease-Fire in Middle East
The crude oil market has had plenty of headlines to absorb this week, and so far the verdict is bearish.
By close of trading Thursday, light, sweet December crude had given up 71[cent] on the New York Mercantile Exchange (Nymex) to close at $32.54/barrel, the lower end of the wide, $1 range that it had traded in throughout the day.
In London, Brent closed at $30.78/bbl, off 53[cent].
The day's news pulled prices in multiple directions - mostly down, thanks to hopes for a Palestinian-Israeli cease-fire, but back up a bit on word of problems at Valero's ...