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Oil price tops $70 a barrel

Driven by a weak dollar and recovering economic data, the price of oil has risen above 71 dollars a barrel.

Three factors have contributed to the price rise. First, US jobless claims hit a nine-month low, boosting the market and consumer confidence.

Second is the resurgent price of commodities. Third is the weaker US dollar. In London, the price of Brent crude also increased, settling at 69.77 dollars, up 2.57 dollars.


 

 
 
 Source : CCTV   Editor: Ivy
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