Oil climbs to five-month high at $83,33

Thursday, October 07, 2010

Crude oil climbed to a five-month high of $83,33 yesterday, boosted by the prospect of a second round of US quantitative easing (QE2), which would support the economy of the world's largest oil consumer.

Oil also gained from yesterday's rise in equity prices, which have shown a significant positive correlation with oil this year.

Front-month US crude rose 51 cents yesterday to a five-month high of $83,33 a barrel, before slipping to a level 17 cents up on the day at $82,98 at 0925 GMT. (CLc1) ICE Brent rose five cents to $84,89.

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Oil climbs to five-month high at $83,33

Crude oil climbed to a five-month high of $83,33 yesterday, boosted by the prospect of a second round of US quantitative easing (QE2), which would support the economy of the world's largest oil consumer.

42 out of 45 bodies of Limpopo bus crash victims identified

Selefu

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A city divided!

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