Oil prices rose 1 percent on Monday as expectations that OPEC will cut production if needed to support prices, conflict in Libya and increased demand amid rising natural gas prices in Europe helped offset bleak growth prospects in the United States. The US light NYMEX crude rose during these moments …
Read More »Oil price surges on output cutting signals
Oil prices closed higher on Friday, boosted by signals from Saudi Arabia that OPEC could cut output, but trading was volatile as investors digested and ultimately shrugged off warnings from the head of the US Federal Reserve about economic pain ahead.Brent crude futures rose $1.65 to settle at $100.99 a …
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