Crude Trades Up Above $40 On Mideast Violence
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Crude is up 7% today, and back above the $40 level, following this weekend's Middle East violence as Israel mounted raids against Hamas in the Gaza strip.
Crude for February delivery is up $2.83 to $40.54 per barrel on NYMEX on fears oil supply from the region will be disrupted.
While crude is up this morning its trend has been down. After hitting a record of $147.27 in June the commodity has been in free-fall on weak demand due to the global slowdown.
Crude for February delivery is up $2.83 to $40.54 per barrel on NYMEX on fears oil supply from the region will be disrupted.
While crude is up this morning its trend has been down. After hitting a record of $147.27 in June the commodity has been in free-fall on weak demand due to the global slowdown.
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