Wednesday, October 14, 2009

Oil prices at US$72 on encouraging demand growth forecast

Oil prices have shown an uptrend, rising on encouraging demand growth forecast- prices in New York rose to US$72.2, while Brent North Sea crude increased to US$70.4. A report by International Energy AAgency (IEA) states that as the global economy recovers, demand is expected to improve at the end of 2009 and in 2010.

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