Crude oil futures jump record $16

This bears watching around mortgage markets as well — crude oil futures soared on Monday. Per MarketWatch:

Crude futures leaped more than $16 per barrel Monday to score their biggest daily gain in dollar terms since 1984 — when crude began trading on the New York Mercantile Exchange. Crude futures rallied to a high of $130 a barrel to reach their strongest intraday level in two months, buoyed by a steep drop in the U.S. dollar and speculation that the Bush administration’s proposal to stabilize the financial sector may help revive economic growth.

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