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Oil Prices Drop Below $70 Per Barrel following the announcement of the death of al-Qaida's leader

 
Anonymous Coward
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06/08/2006 02:54 PM
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Oil Prices Drop Below $70 Per Barrel following the announcement of the death of al-Qaida's leader
Oil prices dipped below $70 per barrel for the first time in two weeks Thursday following the announcement of the death of al-Qaida's leader in Iraq, terrorist leader Abu Musab al-Zarqawi.

Word by Nigerian militants that they would release foreign hostages and an easing of world tensions over Iran also calmed markets, which were already on a downward course after U.S. data showed ample crude and gasoline supplies.



"The hope is that with the removal of the terror leader in Iraq, the Iraqi situation will stabilize faster and future oil supply could increase," said Victor Shum, energy analyst with Purvin & Gertz in Singapore.

The Jordanian-born militant led a campaign of suicide bombings, kidnappings and other violence. Insurgents have also sabotaged pipelines numerous times.

Light sweet crude for July delivery fell more than a dollar on the announcement in Baghdad that al-Zarqawi had been killed in an air raid. By midday in Europe, it was down 98 cents at $69.84 a barrel on the New York Mercantile Exchange.

July Brent crude futures on London's ICE Futures exchange fell 96 cents to $68.23 a barrel.

Thursday's slide in oil prices continued a two-day trend as the market adjusted to U.S. government data showing higher crude oil and gas inventories and some easing of tensions over Iran's nuclear program.

[link to www.breitbart.com]

Last Edited by Technological Supremacy on 09/10/2011 10:21 AM
Anonymous Coward
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06/08/2006 03:10 PM
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Re: Oil Prices Drop Below $70 Per Barrel following the announcement of the death of al-Qaida's leader
And a big bsflag to you OP.

Why the hell do you folks think that the people who go to the web for their news are stupid?
Anonymous Coward (OP)
User ID: 102658
United Kingdom
06/08/2006 03:30 PM
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Re: Oil Prices Drop Below $70 Per Barrel following the announcement of the death of al-Qaida's leader
Why the hell do you folks think that the people who go to the web for their news are stupid?
-------------

The only stupid people are people like you who make comments like that! You dont work for CNN or something like that do you? LOL

The net has more truth than the television networks and its only the paid debunkers who cant stand other sources.

So, stick your flag where the sun dont shine!
Anonymous Coward
User ID: 103709
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06/08/2006 04:04 PM
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Re: Oil Prices Drop Below $70 Per Barrel following the announcement of the death of al-Qaida's leader
"as the market adjusted to U.S. government data showing higher crude oil and gas inventories and some easing of tensions over Iran's nuclear program."

what to say?
the US has always had more than enough crude (even after katrina).

the US gas inventories have been just fine. (other than where there has been hoarding thereby creating a local shortage)

easings over iran's nuclear program.
hmmmm.

all fixed.
Anonymous Coward
User ID: 103780
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06/08/2006 04:23 PM
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Re: Oil Prices Drop Below $70 Per Barrel following the announcement of the death of al-Qaida's leader
OP is a low level i.e. low functioning government op. or a wannabe.

The guy who was killed is not Zarqawi.

Eveyone here but you seems to be aware of that.

Catch up.

I second that bsflag

and this sign's for you: :dumbass:
Anonymous Coward (OP)
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06/08/2006 04:56 PM
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Re: Oil Prices Drop Below $70 Per Barrel following the announcement of the death of al-Qaida's leader
Oh boy, they're coming out of the woodwork....please go back to that hole you crawled out of!

gwdance





GLP