Crude oil surges back to 76 dollars
Crude oil prices have been highly volatile in the last few months, and it continues to be so. The crude oil prices cooled down to less than 70 dollars two weeks back on the back of weak economic data from across the globe.
But the inventory data from US has been far lower than normal last week, and also better auto sales numbers posted by US auto majors for January 2010, has helped push up the crude oil prices further.
Yesterday the price was quoting around 76 dollars which is a neat 9% hike from the 69 dollars a barrel rate quoted two weeks back.
