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Pearls Before Swine, Tuesday, May 4, 2010
“Yesterday’s positive economic indicators have been overtaken by the nasty reality in Europe,” said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. “It looks like oil will remain under pressure.”
Crude oil for June delivery fell $2.79, or 3.2 percent, to $83.40 a barrel at 12:04 p.m. on the New York Mercantile Exchange. Oil dropped as much as 4 percent, the most since Feb. 4