Oil Price Steady As Crude Settles At 82.70
Light sweet crude futures finish the session at 82.70 dollars per barrel amid firm trading. Traders note tentative demand and supply balance while markets weigh global economic signals and OPEC policy.
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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Aug 20, 2011
Page
5
Light sweet crude futures finish the session at 82.70 dollars per barrel amid firm trading. Traders note tentative demand and supply balance while markets weigh global economic signals and OPEC policy.
New York stock markets slid for a fourth straight week as recession fears rose. The Dow dropped 172.93 points to 10,817.65, the S&P 500 fell 17.12 to 1,123.53, and the Nasdaq declined 38.59 to 2,341.84. Major issuers like Caterpillar IBM and Alcoa dropped, while Treasurys held steady with yields around 2.07 percent. Government moves and European debt worries amplified selling, echoing fears from the 2008 crisis.
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