29 November 2010 09:08 [Source: ICIS news]
SINGAPORE (ICIS)--Crude futures climbed more than $1/bbl on Monday, driven up by news that the EU had firmed up its agreement to bailout debt-laden ?xml:namespace>
At 08:43 GMT, January Brent on
January NYMEX light sweet crude futures were trading at $84.77/bbl, up $1.01/bbl on the previous close. Earlier, the
EU foreign ministers agreed late on Sunday to a €85bn ($113bn) bailout of the
The move was viewed as positive sign of the ability of the EU to successfully handle Eurozone debt problems and prevent the need for further bailouts of
The US dollar also traded lower against leading currencies on Monday, making dollar denominated commodities such as crude more attractive to overseas investors.
($1 = €0.75)
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