December 22, 2011
Advanced Search

Current Issue

№11 November   2011

Table of contents Issue Archive
Home / News / Today's Headlines / Oil prices climbed above $ 98 a barrel


Oil prices climbed above $ 98 a barrel

Crude-oil futures climbed back above $98 a barrel Tuesday, putting an end to a three-session decline as tensions in the Middle East fueled concerns over supplies from the oil-rich region.

But recurring euro-zone debt woes continued to feed worries over European oil demand.

“Traders are balancing countervailing demand and supply information — constrained domestic and European demand is in a boxing match with potential supply curbs from the Middle East,” said Seth Rabinowitz, who covers commodities as a partner at Silicon Associates.

Crude for January delivery CL2F -1.36%  tacked on $1.09, or 1.1%, to settle at $98.01 a barrel on the New York Mercantile Exchange. Prices touched a high of $98.70.

Copyright 2011  Market Watch. All rights reserved 


Related news

Copyright © 2008 Eurasia Press, Inc. (USA). All rights reserved.
Web programming by Iflexion
Copyright © 2008 Eurasia Press (