VOL. XLVI

No 36

08-September-2003

OPEC

OIL PRICES

Crude Prices Plunge $2/B On Hedge Fund Exodus And Bearish Stocks Data

Crude oil prices fell sharply last week after NYMEX traders returned from the Labor Day holiday which traditionally marks the end of the US summer driving season. The crude price plunge was triggered by a collapse in NYMEX gasoline prices, as speculative hedge funds pulled out of the market on the realization that the US had survived the threatened major gasoline market supply...