Crude turns higher as U.S. industrial production climbs

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HORIZONS BETAPRO NYMEX CRUDE OIL BULL PLUS ETF - HOU:TSX

This moves with the price of oil-Oil will be 80.00 by Jan 2009

Crude turns higher as U.S. industrial production climbs
By Myra P. Saefong

Last update: 10:18 a.m. EST Nov. 17, 2008

SAN FRANCISCO (MarketWatch) -- December crude climbed $1.60, or 2.8%, to $58.64 per barrel Monday morning on Globex, reversing course after trading as low as $55.29. "Prices turned around after a positive industrial production reading exceeded expectations," John Kilduff, an analyst at MF Global, told clients in a note. But "the dour outlook for the economy, which has affected the global capital markets, continues to be a pile-driving force on energy markets."