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Tuesday, October 17, 2006

Crude Oil Update

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Nymex crude futures extend gains for fourth straight session as OPEC ministers prepare to meet in Qatar to ratify an output cut.
While questions over the cut abound, the prospect of reduced OPEC supplies along with increased geopolitical tensions over North Korea nuclear tests have undercut bearish momentum in the market.
Nov crude +14c at $60.08/bbl.
Dec ICE Brent +39c at $62.05.

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