Excerpt from: Futures and Commodity News
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| November 30, 2007 | | Oil futures drop | For the first time in a month, oil prices dipped below $90 a barrel in commodities trading. Oil futures are down on the prospect of increased output by OPEC.
Even though oil prices got a boost from a pipeline explosion, it did nothing to permanently affect supply. Bloomberg reports on oil prices in commodities trading:
``The market stopped panicking once three of the four
pipelines were restarted,'' said Robert Laughlin, a senior
broker at MF Global Ltd. in London. ``We could see OPEC
providing between a half million and a million barrels next
week.'' | | |
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