Oil prices hit a new record high on Monday, treading ground close to the USD 94 level. A declining dollar and the expectations of an interest rate cut to be announced tomorrow are adding steam to a bullish fuel market.
Crude oil for December gained USD 1.67 to USD 93.53 a barrel on the New York Mercantile Exchange, which corresponds to an increase of USD 7.51 from previous Monday. Many analysts expect that higher oil prices may contribute to a rate cut, USA Today reports. The Federal Reserve is expected to commence its two-day interest rate meeting today. In London, Brent crude oil for December
Dienstag, 30.10.2007, 08:18 Uhr
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