Oil prices jump again in volatile trading week
Oil prices rose sharply Wednesday as a large interest rate cut in
China and news of a possible Russian output cut appeared to counter
another round of dour economic news and larger-than-expected crude
stockpiles in the U.S.
Trading followed this week's established pattern of volatility in the oil markets.
In Nymex trading, light, sweet crude for January delivery jumped more than 7 percent, or $3.67 to settle at $54.44 a barrel. [AP]