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Oil Rises for Second Day on Fed Stimulus Hopes, Equities Rally
Aug. 23, 2011 10:20AM PST
Oil and Gas InvestingBusiness Week reports that Oil surged for a second day amid speculation that the Federal Reserve will support efforts to stimulate the economy.
Business Week reports that Oil surged for a second day amid speculation that the Federal Reserve will support efforts to stimulate the economy.
The market news is quoted as saying:
Crude for October delivery rose $1.40, or 1.7 percent, to $85.82 a barrel at 12:27 p.m. on the New York Mercantile Exchange.