Oil market review: "black gold" continues to grow
The G-20's decision to end currency wars was supported by the oil priceswho just yesterday began a new ascent.
Investors continue to buy in anticipation of the US Federal Reserve meeting on November 2-3, which is expected to announce a new wave of quantitative easing. These actions will lead to further weakening of the dollar and, consequently, to the growth of oil.
At NYMEX crude oil rose $0.83 (1%) to $82.52 a barrel. Brent oil rose 0.47% to $83.35 a barrel on the London Mercantile Exchange.