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'Doom' fears stampede energy traders

10/03/2011
By Sam Fletcher
A warning by the US Federal Reserve Bank that the global economy likely will remain at risk for years resonated like a voice of doom through world markets Sept. 21, stampeding traders away from high-risk investments such as crude oil. Despite a bullish government report that same day of falling US inventories, the front-month November contract for benchmark US crude dropped an aggregate $7.07 in three trading sessions to below $80/bbl on Sept. 23 on the New York Mercantile Exchange, down 9% for that week. West Texas Intermediate registered a net loss of $8.11/bbl for the week while North Sea Brent was down $8.25/bbl in the same period. That included an awesome 6.3% drop Sept. 22 in the Ne...
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