Posts from October 6, 2009
Today in Oil Rises Toward $72 on Recovery Optimism
Oil prices rose toward $72 a barrel on Tuesday as investors bought commodities to hedge against a weaker dollar, and the U.S. government forecast an increase in world oil demand. The U.S. dollar dropped after Australia's Central Bank unexpectedly raised interest rates, a move investors took as a signal world economies may recover soon, boosting fuel demand.
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