Oil up More Than 2 Percent on Broad Market Rally

- August 16th, 2011

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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