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Oil Approaches $100 a Barrel as U.S. Retail Sales Boost Optimism
Nov. 15, 2011 03:36PM PST
Resource InvestingBloomberg reported that oil approached $100 a barrel as U.S. retail sales surged in October, raising hopes that the economy will recover this quarter.
Bloomberg reported that oil approached $100 a barrel as U.S. retail sales surged in October, raising hopes that the economy will recover this quarter.
As quoted in the market news:
Crude oil for December delivery rose $1.23, or 1.3 percent, to $99.37 a barrel on the New York Mercantile Exchange, the highest settlement since July 26. Futures reached an intraday high of $99.84.