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Feature Oct 2008

The Bulls' new clothes

WITH crude oil futures continuing to weaken, the question now is at what point the sell-off will stop. The Brent November contract was down by $0.74/b at $76.72/b on Tuesday afternoon; November WTI futures were $0.82/b lower at $80.37. And, although it is just three months since WTI futures were changing hands at over $147/b, some analysts are even talking of $50/b as a realistic downside target.

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