herald

Sunday 20 August 2017

US data hits price of oil

THE price of oil has risen after disappointing US housing figures led to speculation that the Fed might take a gradual approach toward winding down its economic stimulus.

Benchmark oil for October delivery was up 50 cents to $106.92 (€79.97) a barrel in New York. The contract gained $1.39, or 1.4pc, to close at $106.42 on Friday.

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