Oil prices dipped close to $110 per barrel

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Tue, Aug 19, 2008
Oil Market News
Post by Researcher , Oil Researcher

Crude oil prices dipped near 110 dollars on Tuesday as Tropical Storm Fay avoided oil and gas production facilities in the Gulf of Mexico, reducing worries about supply constraints due to closure of production facilities.

Sucden analyst Andrey Kryuchenkov said:

Crude prices were lower, extending losses from yesterday (Monday) as fears over a tropical storm in the Gulf of Mexico were gradually fading away.

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