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Oil prices hover around $78 a barrel

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Posted: Nov 3, 2009 6:23 AM by John Pastorek
Updated: Nov 3, 2009 6:29 AM
Source: Associated Press

  Rating: 3.0 (2 votes)

Topics: oil, oil prices, crude, Asia, economic recovery, manufacturing, US economy

Oil prices hovered near $78 a barrel Tuesday in Asia as investors welcomed new U.S. manufacturing and construction figures as positive signs of an economic recovery.

Crude oil investors were encouraged by signs of strength in the U.S. economy, which could help boost oil demand.

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