25.11.2008 - Oil leaps 9 pct as OPEC, equities support
From Guardian: Oil surged 9 percent to over $54 a barrel on Monday on expectations that OPEC will cut output again and as stock markets rallied off the U.S. government's plan to rescue U.S. bank Citigroup. U.S. crude rose $4.57 to settle at $54.50, while Brent crude settled up $4.74 at $53.93. Oil has tumbled from record highs over $147 per barrel in July -- hitting a 3-1/2 year low of $48.25 on Friday -- as the global economic crisis dented demand in consumer nations..... Full Article: Source
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