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02/06/2009 00:00 AST
Crude oil prices soared above $68 a barrel for the first time in seven months, boosted by higher Chinese output, a weak US currency and rising equity markets, traders said.
New Yorks main futures contract, light sweet crude for July delivery, shot up to $68.68 on the back of a Wall Street stock surge before ending at $68.58, up by 2.27 dollars from Fridays close.
The price levels were last reached at the end of October. London Brent North Sea crude for delivery in July bounced as high as $68.03 a barrel before ending at $67.97 ,up $2.45 from Friday.
Prices climbed largely due to the weak dollar, said Antoine Halff of Newedge Group.
For more on this:
The Economic Times
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
11/07/2025
Wall Street stocks edged higher Thursday, lifting major indices to records as traders shrugged off worries about US tariffs while strong Delta earnings sent airline shares upward.
The Nasdaq
AFP
11/07/2025
Binance, the global blockchain ecosystem behind the world's largest cryptocurrency exchange, has launched Sharia Earn in the UAE, the first multi-token staking service that meets the principles of Is
Khaleej Times
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The size of China's economy will exceed 140 trillion yuan ($19.5 trillion) this year, the head of the state planner said as policymakers look to steer the country beyond the current five-year policy
Kuwait Times
10/07/2025
Only "a couple" of officials at the Federal Reserve's June 17-18 meeting said they felt interest rates could fall as soon as this month, with most policymakers remaining worried to some degree about
Reuters
09/07/2025
The global sukuk market is poised to maintain its strength in 2025, with foreign currency-denominated issuances expected to reach between $70 billion and $80 billion, according to a new report by S&P
Arab News
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