Wednesday, September 9, 2009

Oil Predictions Echo IHS CERA Report

Oil prices rose more than 5 percent today to post their biggest gain since the end of July, as a falling dollar pushed investors to seek out commodities.

PFGBest analyst Phil Flynn says investors often turn to commodities as a hedge against inflation and dollar weakness, and gold seems to be pulling oil along for the ride.

The jump in oil prices comes a day before the Organization of the Petroleum Exporting Countries meets - oil leaders have signaled they...

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