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Commodities Briefing - Categorized | Oil, Price Watch more

Oil rises towards $53 ahead of U.S. toxic asset plan

Posted on 23 March 2009

From Reuters: Oil rose over 1 percent toward $53 a barrel on Monday, bolstered by expectations that the U.S. Treasury’s efforts to stabilize the ailing financial system would speed up a recovery of the U.S. economy.

The U.S. Treasury Department said Secretary Timothy Geithner will hold a briefing at 8:45 a.m. (1245 GMT) on Monday to talk about wide-ranging efforts to stabilize the financial system through pumping cash into faltering banks and other attempts to increase lending…..Full Article: Source


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