It is being reported by Bloomberg that oil may surpass the 2009 high as the September contract for October delivery expires today, Augsut 20th. The current level stands at $73.52 a barrel. This would then set the stage for further gains.
"Oil has risen 62 percent this year on record OPEC production cuts and speculation that a recovery in the global economy will spur a rebound in fuel demand."
Are you feeling as buoyant as the reports?
To read the entire report, click here.
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