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Commodities Briefing - Categorized | Oil, Price Watch more

Venezuela energy minister: $100/bbl oil ‘comfortable’

Posted on 25 October 2011

Venezuela’s Energy Minister Rafael Ramirez said on Monday that oil prices at $100 per barrel were “comfortable” for producers and for the world economy.

On Monday, U.S. crude oil CLc1 rose 4.4 percent to settle at $91.27 per barrel. Traders attributed oil’s run-up mostly to China’s manufacturing data for October which, according to the HSBC purchasing managers’ index, snapped three months of contraction………………………………………Full Article: Source


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