Oil prices continue to hover around US$61 as reports indicate that a growing US economy might consume more fuel. Crude oil futures closed at a record high on Tuesday as New York Mercantile Exchange, light, sweet crude oil futures for September delivery rose to US$61.89 a barrel, the highest closing price since trading began in 1983. On London's IPE, the September Brent crude-oil futures contract settled at US$60.60 per barrel.
A report indicates that US factory orders rose by 1% in June, a gain for the fourth straight month. This series of increases is the longest since November 1998 to February 1999. Will this robust growth in the US further stimulate fuel demand, leaving minimal spare capacity?
03-Aug-05 
