Oil Futures Inch Higher
Source: Dow Jones, Christian Berthelsen (9/20/11)
"Oil futures reversed a two-day losing streak following a recovery in U.S. equities and the euro."
Oil futures, reversing a two-day losing streak, rose slightly Tuesday, following a recovery in U.S. equities and the euro. Traders also appeared to be anticipating action out of the Federal Reserve this week to boost the sagging U.S. economy.
Light, sweet crude for October delivery rose $0.33, or 0.4%, to $86.03 a barrel on the New York Mercantile Exchange. The October Nymex contract expires Tuesday. The Nymex contract for November delivery was up $0.46, or 0.5%, to $86.27 in morning trading. Brent crude on the ICE Futures Europe exchange for November delivery was up $1, or 0.9%, to $110.14 a barrel. . .View full article