Oil jumps above $80 ahead of Fed meeting

Nov 4th, 2009 - The Denver Post

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There are signs that the economy may have bottomed out, which could mean energy demand will bounce back.

Yet the speed at which crude and gasoline prices are rising has raised concern that the added burden for consumers and business could quash the very recovery that oil investors anticipate.

Benchmark crude for December delivery added 54 cents to $80.14 a barrel on the New York Mercantile Exchange. In London, Brent crude for December delivery rose 55 cents to $78.66 on the ICE Futures exchange.

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