Crude Price Makes A Bounce Back On Monday (22-Aug-2010)
Crude prices have made some recovery on Monday, snapping their losing streak and making a bounce back from its more than a month low on the back of some weakness in the dollar. Though, the prices are trading range bound as the investors are still cautious due to the lackluster economic indicators. There was a report that tropical storm Danielle formed over the mid-Atlantic on Sunday and could become a hurricane by Tuesday night, but as it was headed towards Bermuda, posed no threat to oil and gas infrastructure in gulf of Mexico.
Benchmark crude for October delivery has climbed up 36 cents at $74.18 on the New York Mercantile Exchange. In London October Brent crude gained 36 cents to $74.62 on the ICE.
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International Stock News
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