Share Facebook Fan Page


Auto News

Oil rises above $75 as US dollar weakens


Oil prices rose above $75 a barrel Wednesday, boosted by a weaker dollar. But gains were limited by a report showing an unexpected rise in U.S. supplies last week, a sign demand for crude may not be improving. By early afternoon in Europe, benchmark crude for November delivery was up 24 cents to $75.21 a barrel in electronic trading on the New York Mercantile Exchange. On Tuesday the contract fell $1.22 to settle at $74.97. The October contract expired Tuesday, losing $1.34 to settle at $73.52. The dollar’s skid against the euro was caused by speculation that the U.S. Federal Reserve could push interest rates lower, making investments in dollars less attractive. A weaker dollar makes crude priced in dollars cheaper for investors holding other currencies. The euro was up to $1.3378 on Wednesday from $1.3249 late Tuesday in New York, while the British pound rose to $1.5699 from $1.5625, and the dollar slipped to 84.58 Japanese yen from 85.06 yen. Sourse: http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=7277

Posted on Wednesday, September 29, 2010 @ 11:31:54 LKT

>>


Advertise Here

Advertise Here

Advertise Here




The No1 Car Sales Site in Sri Lanka. Fastest way to Buy Sell Rent Your Vehicle or Find Any Spare Part Stores, Insurance Finance Services and Leasing Company, Banks in Sri Lanka. Largest Vehicle, AutoMobile Needs Directory Site for Sri Lankan Market. Cars Vans Motorcycles Buses Lorry for Your Hire or Transport needs. Easiest way to find details of Bank Loans, Leasing Facilities, Financial Companies and Insurance Policies in Sri Lankan Market. One Stop for your Auto Deals, Vehicle Needs. Nissan Toyota AMW Spare Parts shops in Lanka.