Back in power

Risk staff
03 Dec 2004

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The run-up to and immediate aftermath of the November 2 US presidential election,with its uncertain outcome, were marked by huge price swings in markets aroundthe world, and none more so than in the oil futures market, where daily priceswings of up to $2 a barrel, or 4%, occurred.

But, as it sunk in that Bush wasnow in control of the House and the Senate, much nervous uncertainty was removedfrom the market, and prices started to ease.

“I think the recent fall in oil prices is evidence already

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