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London (Platts) -- 23Oct2008 -- Steelmajor ThyssenKrupp has re-affirmed its opposition to steel futures despite a recent 500 mt billet trade by one of its subsidiaries, the company told Platts Thursday. "As we have declared repeatedly,...

Oil prices fell below $67 a barrel to 16-month lows Wednesday after the US government reported big increases in fuel supplies in the country. The energy Information Administration said crude inventories jumped by 3.2 million barrels last week, above the 2.9 million barrel increase expected by analysts surveyed by energy research firm Platts. In midafternoon trading, light, sweet crude for December delivery fell $5.52 to $66.66 on the New York Mercantile Exchange. The last time a front-month contract traded below $67 a barrel was June 2007, reported AP.

Iranian Oil Minister Gholamhossein Nozari said today that OPEC should cut crude oil production by 2 million barrels a day, reported Bloomberg. The rate of reduction in demand makes it a good time for cutting output, he added. [AMEInfo.com]

Canadian oil and gas company EnCana Corp. said Thursday its third-quarter net earnings jumped to $3.5 billion, or $4.73 per share, compared to $934 million, or $1.24 per share, one year ago. (ECA)

ALBUQUERQUE, NM (MARKET WIRE) With Halloween falling on a Friday this year, more motorists are expected to be out the same night trick-or-treaters take to the streets. AAA New Mexico urges adult partygoers to make plans in advance to stay safe.

New York (Platts) -- 23Oct2008 -- US cobalt prices slipped amid a lack of business and extreme reluctance of consumers to commit to buying the metal, market participants said Thursday. The Platts assessment for 99.8% cathode fell...

New York (Platts) -- 23Oct2008 -- Sims Group, the world's largest scrap recycler, reported net profit after tax of $145 million for the first quarter of its 2009 fiscal year, ending September 30. The profits are 175% higher than...