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Oil Set for Biggest Weekly Gain in Eight Months on Europe, U.S.
Oct. 27, 2011 05:31PM PST
Oil and Gas InvestingBloomberg reported that oil rose to a highest weekly gain since February on hopes that demand will rise after Eurozone’s debt crisis resolves and U.S. economy improves.
Bloomberg reported that oil rose to a highest weekly gain since February on hopes that demand will rise after Eurozone’s debt crisis resolves and U.S. economy improves.
As quoted in the market news:
The U.S. economy grew in the third quarter at the fastest pace in a year, Commerce Department data showed. European leaders agreed to boost a rescue fund to 1 trillion euros ($1.4 trillion) as part of a deal to curb the debt crisis. Brent oil’s premium to New York crude narrowed.