Oil prices rise as dollar falls
Washingtonpost.com reports that on Thursday, oil prices rose as the dollar lost some ground against the euro and other foreign currencies.
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Dollar Slides, Crude Jumps
Wednesday, May 13, 2009
Oil rose for a second day on Wednesday, after an industry group reported U.S. crude stockpiles dropped for the second week in a row and the dollar declined. Oil has climbed 34 percent this year, tracking global equity markets on optimism that an economic recovery will spur demand for fuel. Additional support for crude prices came from the dollar, which fell to the lowest level against the euro since March, bolstering demand for commodities as a hedge against inflation.
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Asides
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Thursday, October 28, 2010