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Commodities Briefing - Categorized | Oil, Price Watch more

Oil above $42 on optimism demand drop slowing

Posted on 26 February 2009

From AP: Oil prices inched higher above $42 a barrel Thursday in Asia as a lower-than-expected U.S. crude inventory increase sparked investor optimism that the collapse in demand may be slowing.

Benchmark crude for April delivery rose 9 cents to $42.59 a barrel by midmorning in Singapore on the New York Mercantile Exchange. The contract gained $2.54 on Wednesday to settle at $42.50….. Full Article: Source


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