Article: European stocks finish in the black as oil price eases

Hugh Taggart and Sarah Thompson
AP Worldstream
08-16-2004
Dateline: LONDON
European stocks finished higher Monday, mainly due to a slight easing in the price of crude oil from all-time highs.

Europe's bourses had a shaky start amid ongoing concerns that the current record prices of crude oil will dampen global growth, then boost inflation when costs are passed on to consumers.

The weakness was short-lived, however, as oil dropped from its highs after the results of the Venezuelan referendum became clear. The referendum sought to oust President Hugo Chavez, and if successful, would have meant a restructuring of that country's oil industry.

At 1600 GMT, IPE October Brent Crude was trading down 6 ...

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