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Tuesday, December 18, 2007

Oil prices dip as Turkey leaves Iraq | The Australian

"Oil prices dip as Turkey leaves Iraq

Matt Chambers, Dow Jones Newswires | December 19, 2007

OIL prices ended at a one-week low overnight, closing slightly down as Turkish troop withdrawal from northern Iraq and continued concern over the US economy weighed on prices.
Trading was very thin and volatile, with prices chopping around in a $US4 a barrel range on the final day of trading of the front-month New York crude oil contract. Expiration days are often volatile, as traders try to exit positions to avoid having to deliver, or take delivery, of actual crude oil."

More:Oil prices dip as Turkey leaves Iraq | The Australian