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European shares rise as oil rallies

Dec. 15, 2014 5:50 AM ETUCO, USO, OIL-OLD, DBO, TWTI, USL, DTO, OLO-OLD, SCO, DNO, BNO, CRUD, UWTI, DWTI, SZOXF, OILBy: Yoel Minkoff, SA News Editor3 Comments
  • Brent crude and WTI have turned sharply around after tumbling to fresh 5-1/2 year lows overnight on OPEC's announcement that it will not cut output even if prices fall as low as $40/bbl.
  • The rally is pushing European shares higher. Brent crude is up 1.6% at $62.86, after hovering close to $60/bbl yesterday. WTI fell below $57 last night, but is now up 1% at $58.39 per barrel.
  • FTSE 100 +0.6; DAX +0.5; CAC 40 +0.6; Euro Stoxx 50 +0.6.
  • ETFs: USO, OIL, UCO, SCO, BNO, DTO, DBO, CRUD, UWTI, USL, DWTI, DNO, SZO, OLO, TWTI, OLEM

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