Short-covering drives NYMEX crude higher

摘要

New York-December crude futures on the New York Mercantile Exchange settled 1.26/barrel higher at 59.14/barrel November 3, with fund short-covering pumping up prices across the complex. The potential for additional violence in the Niger Delta and refinery issues early in the session prevented prices from extending the prior day's slide, but the majority of the gains were made during open outcry well after the news had made the rounds of the trading floor.