Oil Near 31-Month High on Weak Dollar, Unrest

April 29th, 2011

Via: Reuters:

Oil prices hovered near 31-month highs as a weak dollar and violence in North Africa and the Middle East outweighed concerns about slowing growth in top consumer the United States.

On its last trading day of April, U.S. crude was heading for an eighth consecutive month of gains, the longest run of monthly increases since 1983, Reuters data showed.

U.S. crude was up 41 cents at 1217 GMT at $113.27 a barrel, the highest since the close on September 22, 2008. Brent futures were also rose 44 cents to $125.46, less than $2 short of its 2011 high of $127.02, reached on April 11.

Posted in Economy, Energy | Top Of Page

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