Thursday, July 14, 2011

Euro strengthens, oil prices rebound

As the Euro strengthens, oil prices have rebounded. Light sweet crude oil for August delivery rose by over a dollar to US$96.2, while Brent futures were at US$117.3.The Euro has strengthened on a bettter-than-expected auction of Italian 12-month bills and market chatter about the European Central Bank's active involvement in purchasing Spanish and Italian government debt.

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