Democratic Underground - Oil above $95 after Bernanke stimulus comments

Reply #2: Oil above $95 after Bernanke stimulus comments [View All]

Pale Blue Dot

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Fri Jul-15-11 07:08 AM
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2. Oil above $95 after Bernanke stimulus comments

SINGAPORE – Oil prices hovered above $95 a barrel Friday in Asia after Federal Reserve Chairman Ben Bernanke said another round of monetary stimulus was not imminent.

Benchmark oil for August delivery was down 22 cents to $95.47 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. Crude fell $2.36 to settle at $95.69 on Thursday.

In London, Brent crude fell 24 cents to $116.02 per barrel on the ICE Futures exchange.

Bernanke said Thursday that there would have to be signs of deflation before the Fed would consider a third round of Treasury bond purchases, known as quantitative easing, or other stimulus measures.

http://old.news.yahoo.com/s/ap/oil_prices

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Reply #2: Oil above $95 after Bernanke stimulus comments [View All]