Supply fears push oil to $50 (U.S.): Hits new record in after-hours trading as rebels threaten Nigerian production

Article Abstract:

The fear of disruptions to shipment around the world fuel has leaded the crude oil to breach $50 and a negative aspect over US economic growth prospects in 2004. The chief strategist at TD Securities Inc. in Toronto Marc Levesque revealed that even if oil were to remain at $50 for the full year that would only reduce growth by a half-percentage point, with unemployment rates still remaining steady.

Ontario, Nigeria, Forecasts and trends, United States economic conditions, Market trend/market analysis

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Oil ignores OPEC, hits record high

Article Abstract:

The reasons behind the rise in oil prices on New York Mercantile Exchange despite the proposal of Organization of Petroleum Exporting Countries to increse oil quota are examined.

United States

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