Oil over $132 and rising!
Crude oil rose more than $2 a barrel as the dollar fell against the euro, prompting investors to buy commodities as a hedge against the currency's decline.
The falling dollar and higher global demand for raw materials have led to records this year for commodities including gold, corn, soybeans and rice. The dollar headed for the biggest weekly decline against the euro since the week ended March 28 as the U.S. housing slump and record oil prices slow growth.
The falling dollar and higher global demand for raw materials have led to records this year for commodities including gold, corn, soybeans and rice. The dollar headed for the biggest weekly decline against the euro since the week ended March 28 as the U.S. housing slump and record oil prices slow growth.
Labels: commodities, oil
posted by B Harrison at
10:30 AM
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