Oil prices surge past $96
Thu 01 Nov, 2007
| Posted in: Strait Talking
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Oil prices have surged on news that US inventories are down by 3.9M barrels. A barrel of West Texas Intermediate (December delivery) on Nymex (the New York Mercantile Exchange) hit a high of $96.24 yesterday. The last reported trade at the time of writing was $95.61. Most of the inventory drop was attributed to a fall in stocks at Cushing, Oklahoma.
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