Crude oil reached new highs and players are expecting the commodity to gain even more in value.
The front month crude oil hit a new intraday high of USD 84.10/barrel, before settling up USD 1.39 at a new record of USD 83.32 on the New York Mercantile Exchange. The rise was supported by a weakening dollar on the back of this week's 0.5 per cent point cut in the US interest rate. "As long as you have a weak dollar, you're going to have higher oil prices," a broker told CNNMoney.com.
Freitag, 21.09.2007, 08:29 Uhr
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