Author: Elena Todorova
123jump.com
Last Update: 1:57 PM EST November 10 2005
Crude oil prices dropped below $58 a barrel on rising inventories and unusually warm weather. Falling crude sent shares of oil majors like Exxon Mobil, BP, and ConocoPhillips lower. On the economic news front, the Commerce Dept revealed that the U.S. trade deficit jumped to a record $66.11 billion in September, compared to a revised $59.35 billion recorded for August. Economists had expected a more moderate widening.
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