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Market Chatter: Oil Ends Above $97
2/11/2013 3:04:00 PM
By: MT Newswires
"Oil futures rose Monday to finish above $97 a barrel for the first time in more than a week," MarketWatch reported.
It said: "A rally in the euro undermined some of the dollar's earlier strength which, in turn, provided support for dollar-denominated oil prices. The euro gained after European Central Bank council member Jens Weidmann reportedly said the shared currency isn't overvalued and warned governments against trying to weaken the euro."
"March crude rose $1.31, or 1.4%, to settle at $97.03 a barrel on the New York Mercantile Exchange, the highest settlement since Feb. 1."