Monday, June 15, 2009

Oil prices rise behind belief that recovery is near

Crude oil prices have risen to new highs for the year to US$72.6, as compared to levels below US$35 in March. Interestingly, though oil prices have been rising for a month now, many analysts believe tthat the current oil valuation is not based on economic reality, but due to market players who are trading on perception that an economic recovery is underway.

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