The dollar fell the most since 1998 against the currencies of six major U.S. trading partners as economists forecast that the Federal Reserve will cut the target lending rate by a half-percentage point today.
So weak dollar and global market stocks rebound help lift oil prices. The price of oil pushed higher today as rising stock prices overseas tempered concerns about waning demand and the dollar retreated from recent highs.
Crude oil for December delivery climbed as much as $6.18, or 9.9 percent, to $68.91 a barrel on the NYMXE. So today energy shares help gain markets. Massey, Consol and Peabody energy shares up nearly 13 percent for now.
About Me
- Dincer Keskinpala
- I am a trader on global markets. Also watching emerging markets and following everything about macroeconomy. I am also interested in all kind of business.
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