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Major Drop For Oil And Natural Gas



August 05, 2011 – Comments (0) | RELATED TICKERS: BNO

There was a major drop in oil and gas prices on Wednesday. This came as a big shock to many of us, but if play appropriately could be turned into a positive. Here is some explanation as to what happened, why it happened, what what to expect from here.


 "Shares of major oil producers fell Wednesday as crude oil prices hit their lowest levels since late June and a report on the services industry raised new concern that the economy is faltering.

As the Energy Department reported rising supplies of crude oil and gasoline, the price of benchmark West Texas Intermediate crude oil dropped $2.10 to $91.69 a barrel in midday trading. In London, Brent crude also fell."

-Associated Press


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