SOURCE: Stock Traders Daily

July 07, 2005 09:20 ET

XOM, OIH, CVX, VLO and Oil Re-Evaluated in Light of Terror Attack

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Thomas Kee for Stock Traders Daily.

SAN FRANCISCO, CA -- (MARKET WIRE) -- July 7, 2005 -- Terrorist Attacks in London have disrupted what had seemed to be a normal Thursday in London. During the morning rush hour several explosions rocked the subway systems, busses, and other public forms of transportation. Al Queda seemed to claim responsibility; at least they are demanding withdrawal from Iraq on the heels of these attacks.

As a result Oil prices are down sharply as traders are becoming concerned that the demand for fuel will wane as travel plans are reconsidered in light of this news. The Oil Service Holders Trust (AMEX: OIH) was down 1.3% in early trading, Exxon Mobil (NYSE: XOM) was down 1%, Chevron (NYSE: CVX) was down 2.1%, Valero (NYSE: VLO) was down 1.1%, but the worst were the August Futures for Oil which were down 1.7% respectively. This is coming on the heels of a warning from the Saudis that Oil supply may become constrained soon, a move that normally would have caused a spike in oil prices.

If you are trading the Markets you need to know where oil prices are going and this news has jolted the Oil Markets.

Stock Traders Daily has offered a detailed trading analysis of Oil as a result. Click the link below for more details

Thomas Kee, CRD number 2369405.

Stock Traders Daily, CRD number 111906.

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