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CommWatch: What Goes Up Must Come Down; Economic Takeaways From NGP CEO Ken Hersh

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Nancy Agin
October 19, 2010

With the dollar packing a bigger punch Tuesday, U.S. crude oil futures tumbled more than 4% to settle back below an $80 threshold on the New York Mercantile Exchange at $79.49 per barrel. The November front-month contract expires Wednesday.

Oil prices were primarily pressured by the dollar's revived safe-haven appeal and as cautious investors on Wall Street closed wallets due to China's unexpected tightening of its monetary policy. The surprise increase in interest rates could potentially hamper economic growth on a global scale while also tempering the Far Eastern country's ...

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