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Commodities Briefing - Categorized | Oil, Price Watch more

Oil prices above $85 for first time since Sept.

Posted on 11 October 2011

Oil prices jumped 3 percent Monday as fears of another recession retreated. Prices rose Monday after France and Germany agreed to put more capital into European banks. The move by the eurozone’s two biggest nations helped ease concerns that major banks in Europe and elsewhere would be brought down by the region’s debt crisis.
Benchmark crude rose $2.43, or 3 percent, to end the day at $85.41 per barrel in New York. Brent crude, which is used to price many international kinds of oil, rose $3.07 to finish at $108.95 in London……………………………………….Full Article: Source


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