Crude oil's price has risen back above $50 a barrel for the first time in ten weeks, pushed higher by a weaker dollar and hopes of an economic upturn.
US light crude gained rose to $52.25 before closing at $51.61 a barrel in New York trading.
Oil has gained more than 15% since the start of the year.
Oil gained after the US Federal Reserve announced a plan to buy $1.2tn (£843bn) of debt to boost its economy, which in turn may stoke oil demand.
No comments:
Post a Comment