Despite big US crude build, NYMEX surges

摘要

New York-New York Mercantile Exchange January crude futures settled $3.67 higher at $54.44/barrel November 26, shrugging off a surprise 7.3 million barrel build in US crude oil stocks for last week and instead following equity markets higher. After opening as low as 160 points on the downside, the Dow Jones Industrial Average rallied following the announcement of US President-elect Barack Obama's appointment of former Federal Reserve chairman Paul Vol-cker to lead a new panel of advisers to steer the US economy back to health.