30 May 2011

Oil may gain this week


Oil prices may gain this week as investors expect stronger Asian demand to pick up the slack from a slowdown in the developed market, according to the survey. US crude futures last week rose as high as USD 101.90 a barrel, taking the weekly gain to 0.5%, after leaders of the Group of Eight said the global economy is strengthening, and as the dollar dropped to a one-week low against the euro.
Also read: US oil dips on home sales data, OPEC

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