World Oil Prices Rise on Fuel Demand in U.S.

July 14, 2011
The price of oil on world commodity exchanges was falling Thursday morning as demand for motor fuels was growing in the U.S.

The price of an August futures contract for WTI light sweet crude in electronic trading on Nymex was up 3 cents to $98.08 a barrel by 7:10 Moscow time. The price of an August futures contract for North Sea Brent blend was up 14 cents to $118.92 in London.

The day before, August WTI contracts grew 62 cents to $98.05 a barrel, while August Brent contracts were up $1.03 cents to $118.78.

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