Oil jumps above $115 after dollar weakens vs euro »
Posted By STONERS 1 year, 4 months ago in Business & FinanceOil prices rebounded Tuesday, jumping back above $115 barrel after the dollar weakened against the euro and a rally in heating oil attracted new buyers into energy markets.
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STONERS1 year, 4 months ago
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"Light, sweet crude for September delivery rose $2.73 to $115.60 in morning trading on the New York Mercantile Exchange, after alternating between positive and negative territory earlier in the day. The September contract expires Wednesday, adding to the volatility."
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"At the pump, retail gas prices continued to fall, suggesting that cash-strapped Americans are still cutting back on their driving. A gallon of regular slipped another penny overnight to a new national average of $3.73, almost 10 percent lower than record prices of $4.114 a gallon reached July 17, according to auto club AAA, the Oil Price Information Service and Wright Express."
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