Oil price hits record high for the year
October 19th, 2009 - 4:20 pm ICT by IANS
- Frankfurt, Oct 19 (DPA) The price of oil hit a record high for the year Monday, topping $79 a barrel.
Oil climbed to $79.35 in early trading Monday, amid hopes for the current third quarter corporate reporting season and cautious optimism that a pickup in the global economy will help to power energy demand.
In the meantime, the euro continued to edge up toward the key $1.50 mark, rising 0.2 percent to $1.4929 in early trading Monday.
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