After dropping below US$114 over the weekend after OPEC lowered its forecast for oil demand growth due to weak global economy, oil prices rose to US$114.51 in Asia this morning, on concerns of perils posed by a tropical storm to oil facilities in the Gulf of Mexico. Brent North Sea crude rose to US$113.40, after a US$1.13 dip on Friday. OPEC revised its global demand growth forecast for 2008 down to 1.17% from previously forecast 1.2%.
18-Aug-08 
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