THE WALL STREET JOURNAL ONLINE
November 13, 2006 5:10 p.m.
Crude-oil futures fell to their lowest point in a week amid warm U.S. fall temperatures, continuing to trade below the $60 a barrel. The front-month December light, sweet crude contract on the New York Mercantile Exchange fell $1.01, or 1.7%, to $58.58 a barrel, after trading as low as $58.45, its lowest settling price since Nov. 2 and off 4% this year. Here is Monday’s roundup of oil and energy news:
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ENERGY IN PERSPECTIVE: Energy prices have tapered off, writes the Wall Street Journal’s Peter McKay, “but there is a good chance that steadily rising world demand and lingering risks to supply could push prices for crude oil and related commodities back up…. ” And now that energy prices have fallen from summer highs, “money is shifting” from commodities to speculative energy stocks, writes the Journal’s Greg Zuckerman. Plus, see how the U.S. stock market measured up in 1998, when oil was trading at $11.16 per barrel, and where those sectors stand today. read more
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