Friday, August 13, 2004

 

Oil prices big story on economic front.


Oil prices continue to dominate financial markets. New per barrel highs are almost a daily occurrence, with the price per barrel closing at $46.03, almost a full dollar more than yesterday's closing.

One of the near term factors affecting oil prices is an election in Venezuela on Sunday. A poor outcome for the incumbent could cause violence that may affect oil production in the South American OPEC country.

A report on the U.S. trade deficit caused yields in the 10 year bond market to go down, while the stock market edged up with the Dow closing 10 points higher and the NASDAQ up four.

This economic brief brought to you by the business schools of TopColleges.com.

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