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Thursday, August 17, 2006

Markets to Watch Today

Crude-Oil: Yesterday, a combination of falling gasoline prices and technical sellers led Crude to it’s lowest level since June. The Mid-East cease-fire, along with greater-than-expected production from Prudhoe Bay also factored into the sell-off. Crude has fallen 5.8% in the past week, with 1.6% of that occurring yesterday. Crude closed down $1.16 at $71.89 a barrel.

Natural Gas: Falling U.S. electricity demand along with an absence of weather related news led to a sell-off in Natural Gas yesterday. The September contract closed down 9.5 cents at $6.766.

Orange Juice: A lower-than-expected 2006-2007 Florida crop estimate led to a sharp rise in Orange Juice futures. The September contract gained 5.10 cents to close at $1.7760.