labels: industry - general, oil & gas, economy - general
Crude prices decline further news
Our Corporate Bureau
29 October 2004

Mumbai : The news of interest rate adjustments by China to cool its economy, and of surplus stocks with the US, continues to nudge crude prices down from a record high earlier in the week.

For the third day in a row, the price of crude continued to decline. With production showing signs of stabilising in the Gulf of Mexico, sweet, crude light prices are expected to come down further to $50 per barrel.

Prices for deliveries in December were quoted at $50.51, down from $50.92 on the New York Mercantile Exchange.


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Crude prices decline further