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Commodities Briefing - Categorized | Oil, Price Watch more

Oil at 2 year high above $87, risk appetite flares

Posted on 08 November 2010

From Alibaba.com: Oil hit a two-year high above $87 a barrel on Friday as fresh U.S. economic stimulus boosted the appeal of commodities as an asset class in an environment of a weak dollar and better than expected U.S. jobs data.
U.S. crude futures were trading 40 cents up at $86.89 a barrel by 1248 GMT, having touched $87.22 earlier, the highest intra-day price since October 2008. So far this week oil has risen more than six percent……………………………………….Full Article: Source


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