Oil Futures Top $90; Oil ETF Follows Accordingly
January 25th 2008 at 12:00pm by Tom Lydon
Today, futures jumped back over the $90 line, based on the view that recession fears might have been overblown. Energy investors seem to be feeling good about the recent action taken by Congress and the Federal Reserve to right the economy, reports John Wilen for the Associated Press.
Another contributor to the price jump is the word that oil demand in China grew by 6.4% in December. United States Oil (USO) feels the activity – it finished yesterday higher, and so far today, it’s up:
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