Crude Oil futures rebound after a week fall

Reuters, Thursday 28 Jul 2011

Crude oil futures are seen to rebound on Thursday after falling for seven days.

Crude oil was traded at $97.72 per barrel for delivery next September at New York Stock Exchange, increasing by 0.55 per cent. This took place after Wednesday’s fall of 1.9 per cent with concerns over the US negotiating raising the debt ceiling.

At the same time, the weakening of the dollar contributed to the rise of crude oil.

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