Oil On The Rise For The Second Straight Day

- November 6th, 2012

Oil climbed a second straight day on Tuesday as refinery issues kept gasoline futures supported and crude oil also received a lift from stronger equities and a weaker dollar as investors awaited the result of the U.S. election.

Oil climbed a second straight day on Tuesday as refinery issues kept gasoline futures supported and crude oil also received a lift from stronger equities and a weaker dollar as investors awaited the result of the U.S. election.

As quoted in market news:

The market was oversold (last week). It has been a very long move downwards from $115 down to about $105, so it’s quite likely that we are going to continue upwards.

Click here to read full Reuters article.

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