xcel

Crude oil back above $50

Crude oil rose back above $50 a barrel for the first time in ten weeks, pushed higher by a weaker dollar, hopes of an economic upturn and a broader market view that OPECs supply-side contraction has now overtaken the losses on the demand side due to the recession. US light crude today gained $2.40, or 5.2%, to close at $50.63 a barrel on the NYMEX. Oil has gained more than 15% since the start of the year. Nationwide, gasoline averaged $1.91 per gallon.

Crude oil back above $50
xcel, Mar 19, 2009
    There are no comments to display.
  • Category:
    News Photos
    Uploaded By:
    xcel
    Date:
    Mar 19, 2009
    View Count:
    11,414
    Comment Count:
    0