Sunday, October 24, 2010
Crude Oil Rises a Second Day as Faster U.S. Economic Growth May Boost Fuel Use
The December contract advanced as much as 47 cents, or 0.6 percent, to $82.16 a barrel in electronic trading on the New York Mercantile Exchange, and was at $82.10 at 9:15 a.m. Sydney time. It rose $1.13 to $81.69 on Oct. 22. Prices gained 0.5 percent last week and are up 3.4 percent this year. Tropical Storm Richard strengthened to a hurricane, with maximum sustained winds of 90 miles per hour, as it moves to the west-northwest at 13 mph toward the coast of Belize, the U.S. National Hurricane Center said in an advisory yesterday.
Brent crude for December settlement added 30 cents, or 0.4 percent, to $83.26 a barrel on the London based ICE Futures Europe exchange. The contract gained $1.13, or 1.4 percent, to $82.96 on Oct. 22.
Courtesy of Bloomberg News
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