Oil prices jump close to 103 dollars |
| AFP - Mar 26, 2008 |
Oil prices surged by more than a dollar on Wednesday as traders switched investments away from the weak US currency and into commodities.
Traders were meanwhile awaiting the latest snapshot of crude inventories in the United States, which is the world's biggest consumer of energy.
New York's main oil contract, light sweet crude for delivery in May, jumped by 1.38 dollars to 102.60 dollars per barrel.
London's Brent North Sea crude for May gained 1.24 dollars to 101.84 dollars.
"Oil futures were firmer, extending last night's gains amid persistent weakness in the US dollar and as investors were putting their money back into commodities," Sucden analyst Andrey Kryuchenkov said Wednesday.
Read Full Article from AFP
- Posted: 2008-03-26 09:18:12
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