Summary
Oil prices jumped to their highest level in more than three months on Tuesday, rallying above $51 a barrel as traders focused on the declining value of the dollar, cold weather and the possibility of an OPEC production cut.
But if these factors provided the initial impetus for Tuesday's 6 percent runup, analysts said speculative buying by institutional investors was the force that kept it going.See the full content of this document
Extract
Oil Prices Surge Upward
After climbing as high as $51.40, light sweet crude for March delivery settled at $51.15 a barrel on the New York Mercantile Exchange, an increase of $2.80. The March contract expired...
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