Crude Oil prices gained over 3% Monday, as the major US market indices rallied and touched a new 2009 high. Light, sweet Crude Oil for December delivery rose US$2.55, or 3.3%, to settle at US$78.90 bbl on the New York Merc. US stocks rose, with the DJIA surpassing 10,400 during the session, as retail sales rebounded more than expected in October, giving Crude Oil and Gold a healthy boost North. Meanwhile, the USD fell against a basket of currencies, helping commodities to extend gains In London, Brent Crude for January delivery gained US$2.45 to settle at US$78.76 bbl on the ICE Futures exchange.
- Paul A. Ebeling, Jnr. www.livetradingnews.com
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