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Commodities Briefing - Categorized | Oil, Price Watch more

Oil price again flirting with $100 per barrel

Posted on 16 November 2011

Oil prices climbed to near $100 per barrel Tuesday on encouraging news about the U.S. economy. Benchmark crude rose $1.23 to end the day at $99.37 per barrel in New York. The benchmark price hasn’t been that high since July 26. Brent crude, which is used to price many foreign oil varieties, climbed 50 cents to finish at $112.39 per barrel in London.

Prices jumped after the Commerce Department said that retail sales rose in October for the fifth straight month. Consumer spending increased for electronics, appliances, hardware and building supplies. Sales also rose at grocery stores, bars and restaurants and health care stores……………………………………..Full Article: Source


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VRS - who has written 34673 posts on Opalesque Commodities Briefing.


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