Oil Surges Above $99 as Weaker Dollar Spurs Commodity Demand


	Oil Surges Above $99 as Weaker Dollar Spurs Commodity Demand

creepysleepy

11-20-2007 10:34 PM

444 views

tags:

oil, price, market, commodities, dollar

creepysleepy says:

Mmm, this is a kinda big deal, right?

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/5f3713d4-c4d9-4775-8032-4735dcf40224/03AB3F2D-899E-468A-AE9B-0D3E69D824AA/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.bloomberg.com/apps/news?pid=20601087&sid=a_0q4JFsHeks&refer=home" href="http://www.bloomberg.com/apps/news?pid=20601087&sid=a_0q4JFsHeks&refer=home" style="font-size: 11px;">www.bloomberg.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601087&sid=a_0q4JFsHeks&refer=home"><SPAN class="news_story_title">Oil Surges Above $99 as Weaker Dollar Spurs Commodity Demand </SPAN></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601087&sid=a_0q4JFsHeks&refer=home"><P>      Nov. 21 (Bloomberg) -- Crude oil rose above $99 a barrel
for the first time in New York as a weakening U.S. dollar
increased demand for commodities.    
        </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601087&sid=a_0q4JFsHeks&refer=home"><P> Oil, gold and silver gained as the dollar fell yesterday to
a record low against the euro on speculation that the Federal
Reserve will lower interest rates for a third time this year.
Oil gained after Royal Dutch Shell Plc said a fire more than
halved output from a 155,000 barrel-a-day oil-sands plant in
Alberta, potentially cutting shipments to U.S. refineries.    
        </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bloomberg.com/apps/news?pid=20601087&sid=a_0q4JFsHeks&refer=home"><P> ``Oil has become a hedge for investors and the weaker U.S.
dollar has contributed to the rise in gold and oil,'' said
Victor Shum, senior principal at consultants Purvin & Gertz Inc.
in Singapore. ``The price strength in oil is also supported by
the tight fundamentals.''    
        </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/03AB3F2D-899E-468A-AE9B-0D3E69D824AA/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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