英语文摘：Crude futures surge above $70 on weak dollar, production cut

NEW YORK, Nov. 4 (Xinhua) -- Crude futures surged above 70 U.S. dollars a barrel Tuesday on weak dollar and Saudi Arabia's move to cut production.

    Light, sweet crude for December delivery rose 6.62 dollars to settle at 70.53 a barrel on the New York Mercantile Exchange after rising as high as 71.77 dollars.

    The Commerce Department reported that U.S. factory orders fell 2.5 percent in September from August, much worse than analysts had predicted. On Monday the Institute for Supply Management reported U.S. manufacturers contracted more than analysts expected in October, the worst reading in 26 years.

    However, commodities such as oil, gold all surged Tuesday as investors flooded to futures market while the greenback plunged on Election Day.

    Crude futures also soared on reports that Saudi Arabia, the world largest oil producer, had cut around 900,000 barrel per day from its peak in August. In addition to Saudi Arabia and Venezuela, other OPEC members were also showing signs of cutting output.

    Oil prices got boost from stock market as Wall Street rallied more than 3 percent Tuesday ahead of the U.S. election result.

    In London, December Brent crude rose 5.96 dollars to settle at 66.44 dollars on the ICE Futures exchange

将本页收藏到：
上一篇：英语文摘：Wall Street rallies on Election Day
下一篇：英语文摘：Livni: Israel-PNA dialogue important to national interests

※相关链接※

• ·哪种语言最难学？外媒做了个排名，
• ·夏日炎炎吃西瓜：西瓜对健康居然有
• ·英语文摘:Xi, Putin to witness op
• ·英语文摘:China hits 400 mln vacc
• ·欧美文化:Feature: UK takes big s