Oil rebounds to near $90 after falling to eight month low (Oil-Prices)

SINGAPORE _ Oil prices rebounded to around $90 Tuesday in Asia after plunging to an eight-month low Monday on concerns a significant slowdown in global economic growth will undermine demand for crude.Prices have moved so far, so fast, said David Moore, commodity strategist at Commonwealth Bank of Australia in Sydney. I certainly wouldn`t say the bounce today is indicative that we`ve reached a bottom in oil prices.Light, sweet crude for November delivery was up $2.05 to $89.89 a barrel in electro
Posted under Futures Trading Systems by Content Keyword RSS on Tuesday 7 October 2008 at 4:54 am

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