Oil Climbs Back Near $83

 

New York, NY, Oct. 25, 2010--Oil prices jumped to near $83 a barrel Monday in Asia.

Benchmark oil for December delivery was up $1.08 to $82.77 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange.

Finance ministers and central bank governors from the Group of 20 major advanced and emerging nations pledged Saturday to not aggressively devalue their currencies in a bid to keep their exports competitive.

Investors were interpreting the outcome of the G-20 meeting as a sign that policymakers will tolerate a weaker dollar without seeking to retaliate.

 

 


Other Archived Articles

Analysts See Higher Consumer Spending Soon   Full Article
New York, NY, Oct. 25, 2010 -- Analysts are predicting that the American consumer is about to start shopping again and will lift the economy, according to a story by Bloomberg News.

NAR Says Housing Sales Recovery Has Begun   Full Article
Washington, DC, Oct. 25, 2010 -- House resales rose again in September, affirming that a sales recovery has begun, according to the National Association of Realtors.

Armstrong Building Ceiling Tile Plant in W. Va.   Full Article
Charleston, WVA, Oct. 25, 2010 -- Armstrong World Industries is investing about $35 million to build a new plant in Jackson for the production of ceiling tiles.

NABE Sees Slower Growing Economy   Full Article
Washington, DC, Oct. 25, 2010 -- Business economists say the U.S. economy should continue to grow this year but at a slower pace than they initially thought.

Godfrey Hirst Project To Save 250M Liters of Water   Full Article
Victoria, Australia, October 22, 2010 -- Carpet manufacturer Godfrey Hirst has completed a $3.5 million upgrade that is designed to save up to 250 million liters of water each year.

Harvard Researchers See Big Pick-Up in Remodeling   Full Article
Cambridge, MA, Oct. 22, 2010 -- Spending on home remodeling will increase by double-digits next year, according to a prediction by Harvard University researchers.

DriTac Adhesive Gets CRI Certification   Full Article
Clifton, NJ, Oct. 22, 2010--DriTac Flooring Products said that its DriTac 7700 Easy Clean MS Polymer Wood Flooring Adhesive has been certified by the Carpet and Rug Institute’s (CRI) Green Label Plus Program.

Philly Manufacturing Turns Positive in October   Full Article
Philadelphia, PA, Oct. 22, 2010 -- Manufacturing activity in Philadelphia turned positive for the first time in three months in October, according to a report by the Federal Reserve Bank of Philadelphia.

Shaw Names Two Residential Business Executives   Full Article
Dalton, GA, Oct. 22, 2010 -- Shaw Industries has appointed Steve Sieracki to vice president of residential marketing and product management and Kathy Young to director of residential marketing.

U.S. Hardwood Mfgrs Petition Chinese Imports   Full Article
Washington, DC, Oct. 21, 2010 -- U.S. engineered hardwood flooring manufacturers have charged China with unfair trade practices.

Johnson Hardwood Names Schollmeyer CEO   Full Article
City of Industry, CA, Oct. 21, 2010 -- Johnson Premium Hardwood Floors said it has named Bill Schollmeyer CEO.

Illinois Rug Cleaning Business on NBC Show   Full Article
Naperville, IL, Oct. 21, 2010 -- Koshgarian Rug Cleaners Inc. of Naperville since 1906, was selected by NBC producers to help with their renovation show, “George to the Rescue,” according to the LisleSun.

Chinese Log Prices Rising on Tight Supply   Full Article
Beijing, China, Oct. 21, 2010 -- Increasing demand for wood raw material from sawmills, plywood plants and pulp mills in China has pushed Chinese domestic log prices higher

Leading Indicators Index Rises in September   Full Article
New York, NY, Oct. 21, 2010 -- The Conference Board's leading economic index rose 0.3% in September.

Merida's Pure Products Get CRI Certification   Full Article
Boston, MA, Oct. 21, 2010 --Merida's new Pure wool rugs were awarded the Carpet and Rug Institutes' (CRI) Green Label Plus Certification, the company said.

Initial Jobless Claims Decline   Full Article
Washington, DC, Oct. 21, 2010 -- Initial jobless claims fell 23,000 to 452,000 in the week ended Oct. 16, the U.S. Labor Department reported Thursday.

MeisteWerke To Use Valinge Powder Technology   Full Article
Viken, Sweden, Oct. 21, 2010 -- Valinge has signed MeisteWerke as a licensee for new powder technology for flooring and wall panels.

USFContract Names Sales and Specs Reps   Full Article
Dalton, GA, Oct. 21, 2010 -- USFContract, the commercial flooring division of USFloors Inc., said it has agreements with EcoBuild, Red 8 Interior Products and Spartan Surfaces as commercial sales and specifications representatives.

Size of New Homes Continues To Shrink   Full Article
Washington, DC, Oct. 21, 2010 -- New single family homes are continuing to shrink in size and the trend is likely to continue beyond a future economic rebound.

Truck Flooring Firm Expanding in Indiana   Full Article
Peru, IN, Oct. 21, 2010 -- A Canadian company that makes flooring for trucks, trailers and shipping containers plans to start operations at a closed plastics factory in northern Indiana.