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Oil shoots up then drops
- Middle East: Saturday, September 20 - 2008 at 08:47
Oil prices has risen sharply for a second day running on Friday as it bounced above $102 due to falling US currency as after major central banks poured in on financial markets, AFP has reported. However, large gains stayed shortly and about $5 were wiped off. New York's main contract, light sweet crude for delivery in October, hit an intra-day high of $102.24 a barrel, but later end $96.98, down 18 cents on Wednesday's close.
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Medilyn Manibo, Assistant News EditorSaturday, September 20 - 2008 at 08:47 UAE local time (GMT+4)
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