Oil prices hover near record levels of US$110

World oil prices alleviated marginally, but continued to hover around record levels on mounting concerns about a weak US dollar and tight supplies. New York's main oil contract, light sweet crude for delivery in May, closed at US$110.11 per barrel a day after the contract had spiked to US$112.21 in intraday trade. In London, Brent North Sea crude for May settled at US$108.20 per barrel, after earlier striking a lifetime peak of US$109.98. Despite USA heading for recession, an upward revision in China's GDP for last year to nearly 12% is helping to keep the global demand outlook for oil fairly positive.
  More News  Post Your Comment
{{comment.Name}} made a post.




There are no comments to display. Be the first one to comment!


Name Required.


Email Id Required.

Email Id Not Valid.


Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.

Message Required.

Click to Change image  Refresh Captcha