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Short supply in oil hurting market


Wednesday, May 12, 2004

U.S. equities are selling off today amid worries about continuous short supply in oil with price reaching above $40 a barrel. While OPEC is unable to meet the growing demand.

Oil worries were also kept in the forefront by other news that the U.S. trade deficit widened 9.1% in March to a record $46 billion, due in large part to a 21-year peak in oil import prices.


 

By: DocMemory
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