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pinkdollars

04-10-2003 06:34 PM

gas prices coming down because of iraq war

Oil prices fell nearly 5 percent Thursday, the biggest one-day drop since the start of the war, as Kurdish fighters took control of the oil-rich city of Kirkuk in northern Iraq, easing fears of damage to Iraqi oil fields (cnn-money).

whoo hoo

USA! USA ! :BangBang:

DamnGoodRatio

04-10-2003 06:41 PM

No they didn't. It takes 3 to 6 months from extraction to sweet/sour crude. Then the market price can swing. Any changes now are a result of market influences around the turn of the year.

notion

04-10-2003 06:59 PM

Quote:

Originally posted by DamnGoodRatio
No they didn't. It takes 3 to 6 months from extraction to sweet/sour crude. Then the market price can swing. Any changes now are a result of market influences around the turn of the year.

I was going to say something similar, though, I heard it was 3 - 6 weeks. All in all, the price drop is not due to the war. :thumbsup

Keev	04-10-2003 07:54 PM

Somewhere Iread that just the drop in oil / gas prices would put another 150 billion dollars into the economy.

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