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24.12.2010

World Oil Prices Rise on Cold Weather in Europe

The price of oil on world commodity exchanges was growing Friday morning as reports arrived on cold weather in Europe and increasing investor confidence in the U.S. economic recovery.

The price of a February futures contract for WTI light sweet crude in electronic trading on Nymex was up $1.03 cents to $91.51 a barrel by 6:40 Moscow time. The price of a February futures contract for North Sea Brent blend was up 38 cents to $94.63 in London.

Oil prices reached a two year high the day before on positive statistics from the United States.

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