Oil rises above $50 a barrel in Asian trading
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Oil rises above $50 a barrel in Asian trading

November 23, 2008 – 11:57 pm – No Comment

Today in Asian trading, oil raised above $50 a barrel because of a level of optimism surrounding Obama’s announcement Monday about his economic team.

Whoever he chooses for the team faces the worst economic slowdown in decades, and with the United States’ economy foreshadowing the global economy, many are looking this way for what will happen once Obama takes office.

Oil rose 37 cents to $50.30 on the NYSE in midday trading in Singapore.

Jeremy
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