Monday, November 26, 2007

Oil prices rise US$99 a barrel level as weather gets colder and the dollar ...

Oil prices have risen to near US$99 a barrel as weather gets colder in the United States and Europe, and the US dollar continues to weaker. The onset of the Northern Hemisphere winter will boost fuel demand and continue to exert pressure on oil prices. Light, sweet crude for January delivery rose to US$98.76 a barrel in Asian electronic trading on the New York Mercantile Exchange, midmorning in Singapore

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