Oil prices are rising sharply on Monday morning amid rising risk appetite and a breakthrough on the US debt impasse as president Barack Obama on Sunday announced a compromise deal over plans to raise the country's debt ceiling.
The front month Brent North Sea oil contract was last seen USD 1.40 higher day on day at USD 118.14/bbl while WTI on Nymex last traded USD 1.20 higher at USD 96.90/bbl.
"We have seen a big move on the markets since Obama's speech,” one Asia-Pacific trader said, adding this would see risk appetite returning to the market, with room for prices t
Montag, 1.08.2011, 08:24 Uhr
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