Oil prices at highest since October 2008 in Asia

07-Dec-10
Crude oil futures are lingering near their highest level since October 2008 in Asia amid the weakening dollar and strengthening oil demand during winter. The euro jumped to US$1.3375 from US$1.3210 late Thursday. An unexpected increase in the number of unemployed Americans failed to stall oil's momentum as it cruised to a 26 month high. Light, sweet crude futures for delivery in January was at US$89.4 on the Nymex while January Brent crude on London's ICE Futures exchange rose to $91.6.
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