Oil declined to 4 month low
Crude oil prices declined to a four-month low on Tuesday after Russia’s military operations ended in Georgia and the International Energy Agency forecast a steep decline in demand.
Sucden analyst Andrey Kryuchenkov, was quoted as saying:
Geopolitical concerns always provide good support to oil prices and this news should offer some relief to investors worried about exports of Azeri crude from ports in Georgia.
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Tue, Aug 12, 2008
Post by Mike Rodger, Oil Reporter