Oil has been up and down recently, more so down in a big way falling from its highs near 150 just a few short months ago. The price of oil on Monday reversed its recent decline as traders discounted concerns about how a slowing economy may dampen demand for fuel.
Last Friday, concern about demand drove down oil prices despite a pledge by the Organization of Petroleum Exporting Countries to cut production by 1.5 million barrels a day. On Monday, U.S. crude for December delivery rose $1.01 to $65.16 a barrel. The price of oil was closely following the performance of stocks. One analyst sees a big similarity between the chart of oil and the S&P 500.
More people may be inclined to drive now that the price of gas is falling back down. When that's the case, people will want to take over a car lease through LeaseTrader.com.
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This story posted by LeaseTrader.com, the automotive service company that lets people transfer out of their Car Leases early. If you're looking to swap a lease or transfer out of your car lease, please visit www.leasetrader.com