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Friday, October 22, 2004


From AP:
Oil prices continued to pressure the market, casting doubt not only on fourth-quarter earnings, but also on the health of the economy as a whole. A barrel of light crude was quoted at $55.38, up 91 cents, on the New York Mercantile Exchange.

"These oil prices are really going to bite the consumer at some point. Heating oil is up, it's supposed to be a very cold winter in the Northeast, and lower and middle income people are going to pay," said Russ Koesterich, U.S. equity strategist at State Street Corp.