Oil prices have moved $1.85 higher today and are currently sitting at $95.34. Today’s move is coming mainly as a result of this morning’s October payroll report that showed a much greater than expected jump in payrolls. This has put to rest some recession fears, and combined with a falling dollar, Hurricane Noel, and concerns in the Middle East have all put oil back on its track up towards $100 a barrel.
See my full write up on BloggingStocks
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