Oil spikes to USD 74.28 a barrel
Posted on Dec 08 , 2009 • 0 Comments
Oil prices rose in Asian trade as traders capitalised on a weakening US dollar, analysts said.
New York's main futures contract, light sweet crude for delivery in January, rose 35 cents to USD 74.28 a barrel.
Brent North Sea crude for January delivery climbed 57 cents to USD 77.00.
A weakening greenback was providing impetus for traders to buy crude, analysts said.
"The dollar is weaker this morning... people tend to look at the dollar for direction," …






