Now Reading:

Record breaking one day rise in price of oil

world news

Record breaking one day rise in price of oil


The price of oil jumped by more than 16 US dollars to over $120 a barrel, marking the biggest one day rise on record.

It was put down to the effect the proposed US government’s financial rescue plan would have on inflation, which caused the dollar to slide.

In addition, Saudi Arabia cut its output.

Traders remain worried about the exact workings of the rescue plan, and what it could mean for the world’s biggest economy.

Retailers, airlines and travel companies saw their share prices tumble.
Last week oil was trading as low as $91 a barrel.

More about:

Every story can be told in many ways: see the perspectives from Euronews journalists in our other language teams.

Next Article