Oil hovers above $91

October 24th, 2011 by James

Oil prices hovered above $1 a barrel on Tuesday in Asia as investors await plan details of Europe to contain its debt crisis.

Oil hovers above $91

Benchmark crude for December delivery was up 17 cents at $91.44 a barrel at midmorning Singapore time in electronic trading on the New York Mercantile Exchange.

From in.news.yahoo.com:

Oil has jumped 21 percent in three weeks amid growing investor optimism that European leaders will devise a plan to limit the damage from a possible default of Greek sovereign debt. Details of the plan are expected to be announced Wednesday.

“Although the euro zone debt issue remains quite murky, the market appears to be pricing in a viable resolution to this crisis,” energy consultant Ritterbusch and Associates said in a report. “Wednesday’s EU summit could still bring some bearish news if a comprehensive debt plan is not forthcoming.”

In other Nymex trading, heating oil fell 1.1 cents to $3.04 per gallon and gasoline futures slid 1.0 cent at $2.66 per gallon.

Be Sociable, Share!

    Tags: ,

    • Comments Off on Oil hovers above $91
    • Posted in News

    Comments are closed.

    Market and Business Related

    Make money with YouTube Sniper method

    Make money with YouTube Sniper method

    Save Money Tips 2010

    Save Money Tips 2010

    Starbucks Profit Beats Expectations

    Starbucks Profit Beats Expectations

    Inspirational Quotations for All

    Inspirational Quotations for All

    Marketing Plan Software and Office Live

    Marketing Plan Software and Office Live

    Crisis Management at its best

    Crisis Management at its best

    Wordpress Seo Plugin

    %d bloggers like this: