Stocks Breaking: Oil Rose 10% Again On Weak Dollar and Saudi Comments
By Alex Truth www.tradingstockindices.com
Today, 12th december Crude rose over $4 today, which is about 10%, to $48 per barrel due to a weak USD
and some comments out of Saudi that they have delivered the output cuts
promised to OPEC.
Oil minister of Saudi Arabia, Ali al-Naimi, …”the kingdom pumped 8.493
million barrels in November, which is close to the OPEC production quota
of 8.477 million barrels”…
USD dollar very weak against other urrencies today,
on fears the bailout money will create inflation. Other Indexes
also gained today due to USD weakness- Gold which rose 1.5%.
Lets see what happened with USD next few days, most probably the current situation will continue.
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