Speculation that Eurozone leaders could be nearer a deal on resolving the debt crisis and a firmer euro against the dollar is lifting benchmark oil contracts on Wednesday morning despite concerns to the contrary in the previous session, players said.
The front month Brent North Sea oil contract was last seen USD 0.36 firmer at USD 111.51/bbl while WTI last traded USD 0.15 firmer at USD 88.50/bbl.
The renewed optimism seems to have come from some press reports which talk of France and Germany being close to reaching a deal, one trader said.
"Investors latched onto a report by the Guardian on agreements to incre
Mittwoch, 19.10.2011, 08:25 Uhr
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