Bank Of Baku

Oil rallied $3.49 yesterday

Oil rallied $3.49 yesterday
# 14 October 2008 09:41 (UTC +04:00)
Baku. Vahab Rzayev - APA-Economics. Oil prices rebounded from a 13-month low Monday, pushing above $81 a barrel after the dollar weakened and investors trickled back into financial markets on hopes that a globally coordinated rescue plan will stave off an economic crisis.
Light, sweet crude for November delivery rose $3.49 to settle at $81.19 a barrel on the New York Mercantile Exchange, after earlier rising as high as $82.52. The contract fell Friday $8.89 to $77.70, the lowest price since Sept. 10, 2007.
In London, November Brent crude rose $3.37 to settle at $77.46 a barrel on the ICE Futures exchange.
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