Though oil prices have dipped, they continue to hover around US$78 a barrel, as traders took profit ahead of the release of key US indicators and the weekly fuel inventories report.
Oil began the weeek on a high note as a weaker dollar supported hedging activities, while better-than-expected US consumer spending data also buoyed hopes of energy demand recovery in the world's largest oil consumer.
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Thursday, November 19, 2009
Oil prices yo yo to hover around US$78 a barrel
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