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Thomson Reuters: October 3 Energy Commentary

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October 3, 2012

WEDNESDAY, OCTOBER 03, 2012

SECTOR COMMENTARY

Energy stocks were the worst performing group after WTI and Brent oil futures dropped following disappointing economic data from China and Europe and as U.S. domestic oil output hit the highest level in nearly 16 years last week, according to the EIA.

WTI crude oil fell $3.75 or 4.08% to $88.14, its largest drop in four months, after European economic data pointed to a recession that could further hurt global demand for raw materials. Concerns about China and Europe allowed investors to shrug off ...


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