3-Dec-2010 7:53 AM

Oil rises to two-year high

Crude prices rose to a two-year high on 02-Dec-2010 (Bloomberg/Wall Street Journal/AAP). Crude oil for Jan-2010 delivery rose to the highest settlement since 08-Oct-2008 while brent crude oil for Jan-2010 settlement closed above USD90 for the first time since 2008.It was the highest close since 01-Oct-2008. Oil prices gained momentum from rising equities markets and improving economic data.