CNNMoney ^ | 3/31/2011 | Ben Rooney
Posted on Thursday, March 31, 2011 1:14:46 PM by Signalman
NEW YORK (CNNMoney) -- Oil prices jumped Thursday, rising above $106 a barrel, as the U.S. dollar weakened and turmoil in the Arab world continued to stoke supply concerns.
The main U.S. oil contract, West Texas Intermediate, for May delivery was up $2.07 to $106.34 a barrel. Brent crude, the European benchmark, rose $1.90 to $117.03 a barrel.
The rally came as the dollar slumped 0.4% against the euro on speculation the European Central Bank is poised to raise interest rates to ward off rising inflation.
Eurostat, the European Union's statistics agency, estimated Thursday that euro area inflation rose 2.6% in March, up from 2.4% in February.
While inflation has also ticked higher in the United States, the Federal Reserve is not expected to raise interest rates soon, even as the central bank signals an end to its asset purchase program.
(Excerpt) Read more at money.cnn.com ...
--
**********
FUBO
**********
**********
Gunny G Blog @ WP
http://www.GunnyG.WorPress.com/
**********
FACEBOOK-GunnyG
http://www.facebook.com/profile.php?id=100000763008392
**********
Gunny G @Blogspot.com
http://gunnyg.blogspot.com/
***********
"A Constitution of Government once changed from Freedom, can never be restored; Liberty, once lost, is lost forever. "
~John Adams
*********
BOTTOM LINE: THINKING MARINES ONLY!
*****
No comments:
Post a Comment
Note:
The 'Reader Responses; shown on many posts/articles are almost always worthwhile reading.
Often, the comments by readers enhance the posted article greatly, and are informative and interesting.
Hopefully, all will remember to read the reader comments, and post their own as well.
Thanx
*****