Wall Street

By Lisa McAdams

Online Stock Market Trading Oil prices eased back from record high levels on Thursday after Russia's justice ministry said the embattled oil giant Yukos can continue oil production and sales.

Dollar gains yesterday were also supported by the declining oil prices that hit a 19 month low yesterday. Due to the comfortable weather and the overall declining demand for oil products, crude oil is currently trading around a barrel. Lower energy costs are considered positive for economic growth as they constitute a sizable portion of overall inputs prices. This allows manufacturers to lower prices and consumers to buy more.

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Stock markets across Asia fell Tuesday, tracking Wall Street's decline on renewed concerns about the crisis in credit markets and worries that record oil prices will dampen consumer spending in an already slowing economy.

Stock Investing Game July 29, 2004 (AXcess News) Moscow - After reaching 21-year highs of $43 a barrel on Wednesday, oil prices on world markets have since dropped back on word that Russia's besieged Yukos oil company can continue production and sales.

---------- Decline Line is useful for determining the strength of the market. When more stocks are advancing (increasing in price) than declining, the value increases. When more stocks are decreasing in price, the value decreases. Decline Line can be compared to current price trends to determine if there is support for those trends. For example, when prices are increasing, Decline Line is decreasing, a decreasing number of stocks are participating in the price increasing. Therefore, the price trend will typically begin to reverse.

Journal Prime Rate Street Wall Wednesday's highs were triggered by a Yukos statement that a dispute between the company and Russia's justice ministry could lead to a halt in its production, which accounts for two percent of the world's oil supply.On Thursday, the justice ministry denied any intent to disrupt Yukos operations, leading investors and oil analysts to breathe a sigh of relief. Prices on Russia's Micex stock index, as well as other exchanges across Europe, recorded quick rises.

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Stock Market News "I think most people are rapidly coming to the conclusion that Yukos production has not been impacted as of this moment and, unless the situation massively deteriorates from here, it should not actually [affect] production," said Paul Collison, an oil and gas analyst for Brunswick UBS brokerage in Moscow.

Stock Investing Basics But not everyone is so confident. Speaking in Asia Thursday, the president of the Organization of Petroleum Exporting Countries said the cartel was extremely concerned about the problems facing Russia's largest oil producer.AdvertisementOPEC's president said the Yukos crisis has already had a negative psychological impact on world markets and is a continued cause for concern as it threatens global supply and demand.

Stock Investing Software Paul Collison in Moscow says Brunswick USB believes there are ways to address those concerns."Even if the worse case happens with the Yukos oil company, we think there are a number of ways the authorities can shape the situation to ensure that there is very little disruption to the entities that currently comprise Yukos," he said. "And even in that case, if there is a moderate disruption, other Russian oil companies could step in and meet the shortcoming. Because in Russia, unlike most of the rest of the world, the easy part so to speak is producing the oil."But Mr. Collison concedes that things do not look likely to improve for the Yukos oil company or its executives in the coming days and weeks.

Stock Market Trading The former chief executive officer of Yukos, Mikhail Khodorkovsky, and his top associate, Platon Lebedev, remain in jail on multiple tax evasion and fraud charges. The company, meanwhile, is struggling to meet government claims that it owes $3.4 billion in back taxes, while its assets remain frozen.

Stock Investing For Dummy The Russian government denies any wrongdoing in its aggressive pursuit against Yukos, saying all people from pensioners to oil producers are equal before the law. Critics of the government say the case against Yukos is retaliation by the Kremlin for Mr. Khodorkovsky's financing of opposition political parties.Source: Voice of America

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