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November 21, 2007
Crude oil prices rose above a record $99 per barrel Wednesday as worries about inadequate winter supplies in the Northern Hemisphere and news of refinery problems stoked bullish sentiment, according to the Associated Press.
The declining U.S. dollar and speculation that the U.S. Federal Reserve will again cut interest rates also boosted prices. Some investors put their money into oil contracts, betting that gains in their price will offset dollar weakness.
Posted by Peter C. T. Elsworth 
at 9:28 AM to Crude oil market
| Permalink
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Posted by: Mark Goldes on November 21, 2007 8:40 PM
Please be civil. Vicious comments, personal attacks and profanity won't be published.
