Crude Oil prices climbed Monday as US stocks rebounded and the US$ weakend further against the Euro. Light, sweet Crude Oil for November delivery bounced back above US$70 bbl after touching an intra-day low of US$68.05 bbl and ended at US$70.41bbl on the New York Merc, it closed + 46 cents higher than the previous close. Crude Oil got lifted as Wall Street rebounded from the first two-week decline since July, boosted by a report which showed service industries returned to growth after 11 months of contraction. The Dollar declined against the Euro as recovery outlook encouraged investors to buy riskier assets, supporting dollar-priced Crude Oil as it became cheaper for holders of other currencies. In London, Brent Crude Oil for November delivery fell 3 cents to settle at US$68.04 bbl on the ICE Futures exchange.
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