Oil prices head back towards $82

LONDON (AFP) --

Oil prices rose on Friday, with New York crude heading back towards 82 dollars, a level struck earlier this week for the first time in one year.

New York's main contract, light sweet crude for delivery in December, climbed 24 cents to 81.43 dollars a barrel.

Brent North Sea crude for December delivery advanced 25 cents to 79.76 dollars a barrel in early London trading.

Crude prices had surged to a one-year high of 82 dollars on Wednesday, driven by a weak dollar and optimism over the global economic recovery, analysts said.

Official data due Friday is widely expected to show Britain's recession ended during the third quarter, while the United States is also predicted to have returned to positive growth in the July-September period.


Copyright © 2009 AFP All Rights Reserved

Times of the Internet, now in Spanish


Published: Friday 23rd of October 2009 05:00:54 AM
Print | Email Friend |
Receive updates via Twitter

Like this article? Then submit it to your favorite social network to share with others.
Bookmark and Share
Subscribe to Business RSS Feed: rss feed business
Read more news stories in business.
View all posts tagged: Crude Oil Futures

Related products: Crude Oil Futures

Read the last five articles tagged Crude Oil Futures

Read the last five articles in the BUSINESS category