Oil
Oil
Out of context: Reply #4
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une 6 (Bloomberg) -- Crude oil rose 4 percent as the dollar weakened after U.S. unemployment grew and Morgan Stanley said Asian demand may send prices to $150 within a month.
Oil may ``spike'' because ``Asia is taking an unprecedented share'' of Middle East exports, wrote analyst Ole Slorer. Workers at Chevron Corp. in Nigeria may strike, a union official said. The dollar weakened against the euro as a rising U.S. unemployment rate signaled the Federal Reserve may be reluctant to raise interest rates.
Rising unemployment ``is going to lead to a drop in the dollar and higher commodity prices,'' said Phil Flynn, a commodities trader for Chicago-based Alaron Trading. The Fed will be ``less aggressive in raising interest rates.''