Analysts said the new record was brought by a new low of the value of the dollar against the euro, the increasing investment flows into the market, an unexpected drop in U.S. inventories, and the worsening tensions between Colombia and Ecuador, an OPEC member.
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Crude Oil Above $105
Crude oil futures jumped for a second day Thursday and closed above $105 a barrel
Crude oil futures jumped for a second day Thursday and closed above $105 a barrel.
Light sweet crude for April delivery gained 95 cents, or 0.9 percent, to close at 105.47 dollars a barrel on the New York Mercantile Exchange.
Analysts said the new record was brought by a new low of the value of the dollar against the euro, the increasing investment flows into the market, an unexpected drop in U.S. inventories, and the worsening tensions between Colombia and Ecuador, an OPEC member.
Analysts said the new record was brought by a new low of the value of the dollar against the euro, the increasing investment flows into the market, an unexpected drop in U.S. inventories, and the worsening tensions between Colombia and Ecuador, an OPEC member.
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