Oil prices are rising sharply on Thursday morning, following a steep decline in the previous session, as European leaders agreed a deal to tackle sovereign debt in the eurozone and as the dollar weakens, players said.
The front month Brent crude oil contract last traded at USD 110.50/bbl, up USD 1.59 on Wednesday's close on the Ice exchange, recovering some of Wednesday's USD 2.01 drop.
At Nymex, WTI crude for December delivery was last seen USD 1.88 higher day on day at USD 92.08/bbl, after dropping USD 2.97 in the previous session.
Donnerstag, 27.10.2011, 08:07 Uhr
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