Oil rose by more than six dollars on Tuesday on the back of a weaker dollar and Opec production cuts.
In New York, Nymex December WTI rose by USD 6.62 to close at USD 70.53/bbl, while in London the ICE December Brent contract for North Sea crude oil settled up USD 5.96 to USD 66.44/bbl. This morning, the Brent crude front month contract was last traded down USD 1.64 to USD 64.80/bbl."The coming weeks will show whether oil prices have really reached their lowest level at USD 60,"
Mittwoch, 5.11.2008, 07:58 Uhr
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