September 8, 2004
Oil prices fall as supplies build, storm misses Gulf (September 8, 2004, Chicago Sun-Times)
Oil prices fell Tuesday as OPEC's president said supplies were growing faster than demand, and traders breathed easier knowing that petroleum production in the Gulf of Mexico did not suffer as a result of Hurricane Frances.
''There's no news to keep prices from falling,'' said Ed Silliere, vice president of risk management at Energy Merchant in New York, noting that the market has even shrugged off recent pipeline sabotage in Iraq.
Were there any inflationary pressures you'd not require news. Posted by Orrin Judd at September 8, 2004 11:29 AM