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Commodities Briefing - Categorized | Oil, Price Watch more

Crude oil surge points up sense of recovery

Posted on 08 May 2009

From FT: Commodities prices on Thursday hit their highest level in six months, with crude oil at one point surging above $58 a barrel and leading a broad rally as consumers and investors bet on a quicker-than-had-been-expected economic recovery.

“A sense that the worst has passed on the macroeconomic front has investors looking for green shoots – and finding some,” said Hussein Allidina, head of commodities research at Morgan Stanley in New York, citing better-than-expected data out of Asia last month…….Full Article (Registration Required) : Source


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