2/5/2005
Crude futures hit low after recent gains
Story link: Crude futures hit low after recent gains by Brian Turner

Crude oil futures reached a two-month low on fears that demand could slow down in the face of larger inventories and lagging economic growth.
In New York, West Texas Intermediate crude went as low as $49.05 per barrel in early trading before recovering to $49.70 per barrel at midday and to just above $50 by mid-afternoon.
Prices have fallen five out of the past six trading sessions. One analyst said that the current downturn in crude oil prices was simply a correction after recent gains, and that prices are not likely to fall much lower. London markets were closed on Monday.
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