Oil Rises to 27-Month High on Economic Rally

- January 3rd, 2011

Bloomberg reports that Crude oil rose to a 27-month high on speculation that the U.S. will be able to sustain an economic recovery this year.

Bloomberg reports that Crude oil rose to a 27-month high on speculation that the U.S. will be able to sustain an economic recovery this year.

The market news is quoted as saying:

“Oil looks like one of the best investments of 2011,” said Carl Larry, the president of Oil Outlooks & Opinions LLC in Houston. “Investors want to get in fast and get in early. Any way you look at it, oil is going to be in demand this year.”

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