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Commodities Briefing - Categorized | Oil, Price Watch more

World oil prices turn higher in Asian trade

Posted on 25 November 2011

World oil prices turned higher in Asian trade Thursday on stronger US energy demand and as investors abandoned equities markets for crude, analysts said. New York’s main contract for January delivery gained 24 cents to $96.41 per barrel while Brent North Sea crude for delivery in January advanced 60 cents to $107.62.

The oil market was buoyed by the weekly US inventory report, which showed a larger-than-expected drawdown last week, said Victor Shum, senior principal of Purvin and Gertz energy consultants in Singapore………………………………………Full Article: Source


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