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    Oil up More Than 2 Percent on Broad Market Rally

    Investing News Network
    Aug. 16, 2011 09:29AM PST
    Resource Investing

    Business Week reports that oil inched up to the highest level in more than a week.

    Business Week reports that oil inched up to the highest level in more than a week.

    The market news is quoted as saying:

    Oil also was propped up by a weaker dollar. Oil is priced in U.S. currency, and it tends to rise when the greenback falls and makes crude less expensive for investors holding foreign money.

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