Oil surges after Bernanke speech | Bangkok Post: breakingnews

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Oil surges after Bernanke speech

Crude oil prices surged Friday, lifted by a weaker dollar on remarks by US Federal Reserve chief Ben Bernanke and by a slow return of Gulf of Mexico production after Hurricane Isaac.

Crude oil prices surged Friday, lifted by a weaker dollar on remarks by US Federal Reserve chief Ben Bernanke and by a slow return of Gulf of Mexico production after Hurricane Isaac.

New York's main contract, light sweet crude for October, was up $1.85 at $96.47 a barrel in closing trade around 2000 GMT ahead of a long holiday weekend.

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  • robins

    ThailandPost : 691

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    Discussion 1 : 01 Sep 2012 at 08.331

    Those who actually produce oil and other vital commodities deserve a decent return on their investment and risk, the parasitic speculators in London, New York and elsewhere do not. Sadly it will never happen, but if buying essential commodities or options were limited to those who legitimately use or distribute them, most people would be far better off.

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