World Oil Prices Rise on OPEC Debate

June 9, 2011
The price of oil on world commodity exchanges was growing Thursday morning as OPEC nations debated crude production quotas.

The price of a June futures contract for WTI light sweet crude in electronic trading on Nymex was up 73 cents to $101.47 a barrel by 7:10 Moscow time. The price of a June futures contract for North Sea Brent blend was up 31 cents to $118.16 in London.

The day before, June WTI contracts fell on expectations OPEC would increase output with contracts down $1.65 to $100.74 a barrel. The price of June Brent contracts dropped $1.07 to $117.87.

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