LONDON: Oil prices firmed almost $1 to above $97 a barrel on Friday, within sight of its record high, bolstered by a fall in US fuel inventories and mounting tension in Pakistan and northern Iraq.
Prices surged to a one-month high of $97.79 on Thursday after US crude and distillates inventories fell more than expected and in response to the assassination of Pakistani opposition leader Benazir Bhutto. US crude was up 90 cents to $97.52 a barrel at the time of going to press. It hit a record high of $99.29 on November 21. London Brent rose 80 cents at $95.58 a barrel.
Crude oil inventories in the US, the world’s top oil consumer, now stand at their lowest in nearly three years after falling by 3.3 million barrels in the latest week.
Prices surged to a one-month high of $97.79 on Thursday after US crude and distillates inventories fell more than expected and in response to the assassination of Pakistani opposition leader Benazir Bhutto. US crude was up 90 cents to $97.52 a barrel at the time of going to press. It hit a record high of $99.29 on November 21. London Brent rose 80 cents at $95.58 a barrel.
Crude oil inventories in the US, the world’s top oil consumer, now stand at their lowest in nearly three years after falling by 3.3 million barrels in the latest week.
No comments:
Post a Comment