| 12.12.2008 - Oil soars 10% on possible output cut, dollar tumble |
| From Marketwatch.com: Crude-oil futures soared above $49 a barrel Thursday, propelled by sharp weakness in the dollar and expectations that the Organization of Petroleum Exporting Countries will deliver a significant production cut next week. Crude for January delivery rose $4.46, or 10.2%, to end at $47.98 a barrel on the New York Mercantile Exchange. Earlier, the contract hit an intraday high of $49.12 a barrel in electronic trading on Globex. .... Full Article: Source |