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Commodities Briefing - Categorized | Oil, Price Watch, Research more

Crude oil futures likely to trade higher

Posted on 14 October 2008

From Myiris.com: As per a report published by Karvy Comtrade, the Crude oil prices rose from a 13-month low as governments in the U.S., Europe and Asia pledged to avert a collapse in the financial system while turmoil in credit markets threatens to stall the global economy.

Oil gained for the first time in four days after the 15 nations using the euro agreed to shore up their banks, and Richard W. Fisher, president of the Dallas Fed bank, said the U.S. Federal Reserve will do everything necessary to stabilize financial markets…… Full Article: Source


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