Crude Oil Rises From 10-Month Low on Fed Speculation

- August 10th, 2011

Bloomberg reports that oil surged from a 10-month low after speculation that the Federal Reserve will implement a third round of asset purchases.

Bloomberg reports that oil surged from a 10-month low after speculation that the Federal Reserve will implement a third round of asset purchases.

The market news is quoted as saying:

Crude for September delivery climbed 99 cents, or 1.3 percent, to $80.29 a barrel at 11:33 a.m. on the New York Mercantile Exchange.

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