Crude oil rises to six month high in global market

Dhaka, Bangladesh (BBN) – Crude oil rose to a six month high this week as equity markets around the world posted four consecutive days of gains.

Downgrade of the UK’s ratings outlook to negative by S&P and higher estimates of economic contraction in the US from the Federal Open Market Committee saw global markets post minor losses.

NYMEX WTI traded at US$ 60.75, gaining 5.2 percent this week while IPE Brent gained 3.5 percent to $ 57.24.

BBN/SS/SI/AD-22May09-3:46 pm (BST)

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