- Prison Planet.com - http://www.prisonplanet.com -

Oil Rises for the First Time in Four Days as Dollar Weakens

Posted By admin On August 13, 2008 @ 3:11 am In Money Watch | Comments Disabled

Grant Smith and Christian Schmollinger
Bloomberg [1]
Wednesday, Aug 13, 2008

Crude oil rose for the first time in four days as the U.S. dollar weakened, bolstering the appeal of commodities as a hedge against inflation.

Crude oil for September delivery rose as much as 98 cents, or 0.9 percent, to $113.99 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It traded for $113.80 at 8:27 a.m. London time. Yesterday, futures declined $1.44, or 1.3 percent, to settle at $113.01, the lowest close since May 1.

The dollar declined 0.5 percent to $1.4969 against the single European currency from a 5 1/2-month high of $1.4816 yesterday.



Article printed from Prison Planet.com: http://www.prisonplanet.com

URL to article: http://www.prisonplanet.com/oil-rises-for-the-first-time-in-four-days-as-dollar-weakens.html

URLs in this post:

[1] Bloomberg: http://www.bloomberg.com/apps/news?pid=20601091&sid=aujDtTr0hiJo&refer=india

[2] Dollar Rises on Speculation Oil Decline to Bolster U.S. Economy: http://www.prisonplanet.com/dollar-rises-on-speculation-oil-decline-to-bolster-us-economy.html

[3] Gold Rises to 18-Month High on Inflation Concern, Weaker Dollar: http://www.prisonplanet.com/gold-rises-to-18-month-high-on-inflation-concern-weaker-dollar.html

[4] Oil Rises Above $80, Gold Near Record High on Dollar: http://www.prisonplanet.com/oil-rises-above-80-gold-near-record-high-on-dollar.html

[5] Gold rises 5 percent on dollar fall, commods rally: http://www.prisonplanet.com/gold-rises-5-percent-on-dollar-fall-commods-rally.html

[6] US gold rises toward $1,020/oz on dollar tumble: http://www.prisonplanet.com/us-gold-rises-toward-1020oz-on-dollar-tumble.html

Copyright © 2013 PrisonPlanet.com. All rights reserved.