OIL RECORD

September 18th, 2007

Another eddy current to add to the perfect storm.

Via: IHT:

Oil prices climbed to a fresh high above US$81 a barrel amid hopes that the U.S. Federal Reserve will cut a key interest rate later Tuesday, a move the market believes would bolster the economy and strengthen petroleum demand in the world’s largest energy consumer.

Investors expect the Fed to cut the benchmark federal funds rate at least a quarter point to 5 percent to ease pressure on the U.S. credit market.

Posted in Economy, Energy | Top Of Page

Leave a Reply

You must be logged in to post a comment.