Excerpt from: Futures and Commodity News
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| December 11, 2007 | | Commodities trading: crude oil | Crude oil futures are up this morning as oil prices gain in commodities trading. Oil prices are up on the expected Fed rate cut later, as there is speculation that the rate cut will stop a U.S. recession. Bloomberg reports on on oil prices in commodities trading:
``The market could well see a cut as the Fed doing what it
can to minimize any weakness,'' said Mike Wittner, head of oil
research at Societe Generale SA in London. ``The market would
see that as positive for oil consumption.'' ...
``A cut by the Fed would be positive,'' said Eugen
Weinberg, an analyst at Commerzbank AG in Frankfurt. ``A 25
basis point cut is pretty much factored in already. A 50 basis
point cut would mean that a rally would last for several days.''
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