Oil up Over $115 Boosted by Central Bank Action

- September 15th, 2011

Reuters reported that oil traded at over $115 boosted by reports of new liquidity injections by Central Banks in the fourth quarter, a weaker dollar and short covering ahead of the Brent contract’s expiry.

Reuters reported that oil traded at over $115 boosted by reports of new liquidity injections by Central Banks in the fourth quarter, a weaker dollar and short covering ahead of the Brent contract’s expiry.

The market news is quoted as saying:

The European Central Bank said it had decided, in conjunction with the U.S. Federal Reserve, the Bank of England, the Bank of Japan and the Swiss National Bank, to conduct three U.S. dollar liquidity-providing operations in the last three months of the year.

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