Bank Of Baku

Oil prices fell 10% last week

Oil prices fell 10% last week
# 10 November 2008 08:36 (UTC +04:00)
Crude oil for December delivery climbed as much as $3.26, or 5.3 percent, to $64.30 a barrel in after-hours electronic trading on the New York Mercantile Exchange.
Crude oil and copper rose more than 5 percent after China announced a 4 trillion yuan ($586 billion) stimulus package that may spur economic growth and demand for raw materials, Bloomberg reports.
Brent crude oil for December settlement gained as much as $3.11, or 5.4 percent, to $60.46 a barrel on London’s ICE Futures Europe exchange.
Prices fell 10 percent last week as equities dropped, U.S. fuel stockpiles rose more than expected and the nation’s unemployment rate climbed to a 14-year high.
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