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Paulmiller left a comment at 4:15 pm 10/12

Terrorism=Cheaper Oil?

The market thinks so for some odd reason.

Oil prices tumble after terror attacks in London
POWER REGIONAL
7 Jul 2005
World oil prices dropped on 7 July after a series of fatal terrorist attacks in London. The price of Brent North Sea crude for delivery in August dived $4.3 to $55.5 a barrel, in London. Earlier, the price struck a peak of $60.70. Prices had hit $62 a barrel in New York before they tumbled to $57.2. Four blasts targeted at London’s transport system killed at least 30 people ahead of the start of the G8 summit in Edinburgh. Oil prices had risen on world markets due to fears that two tropic storms heading for the Gulf of Mexico would force the evacuation of 96 platforms and rigs there and disrupt US oil production in facilities.

Posted by evariste on Jul 07, 2005 6:45 pm

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