“Oil Rises as Dollar Weakens on Speculation of Fed Credit-Easing”
“Oil for December delivery rose as much as 53 cents to $81.96 a barrel in electronic trading on the New York Mercantile Exchange. It was at $81.84 at 11:07 a.m. Singapore time. On Oct. 29, the contract dropped 0.9 percent to $81.43, trimming the advance in October to 1.8 percent.
The dollar dropped for a third day against the 16-nation euro, reaching $1.3997 per euro from $1.3947 in New York on Oct. 29. A weaker U.S. currency increases the appeal of commodities as an alternative investment.” Read more.
“Oil Rises as Dollar Weakens on Speculation of Fed Credit-Easing”
James Paton and Yee Kai Pin
Bloomberg Businessweek, October 31, 2010.
Image by Kenneth Cratty / FreeDigitalPhotos.net.
