Related News
Oil price above US$96 per barrel on Iran concerns
Source: Agencies |
November 9, 2011, Wednesday
|
Online Edition
Online Edition
OIL prices rose above US$96 per barrel yesterday as tensions escalated over Iran's nuclear program and OPEC boosted its demand forecast.
Benchmark crude rose US$1.28 to settle at US$96.80 per barrel on the New York Mercantile Exchange. Benchmark oil hasn't traded above US$96 in more than three months.
Brent crude rose 44 cents to end the day at US$115 per barrel on the ICE Futures exchange in London.
Prices rose as Iran's president vowed to press ahead with the country's nuclear program. The UN nuclear atomic energy agency said yesterday for the first time that Iran is suspected of conducting secret experiments whose sole purpose is the development of nuclear arms.
Meanwhile, the world's thirst for oil continues to grow. Developing nations in Asia and the Middle East have been importing more barrels as they build factories and their people buy more cars. The Organization of Petroleum Exporting Countries said yesterday that global oil demand should rise to a record 92.9 million barrels per day by 2015. That's up 1.9 million barrels per day from the previous forecast.
OPEC said it was making the change to reflect a "swifter than expected" recovery in energy demand since the recession.
In other Nymex energy trading, gasoline fell 2.18 cents to finish at US$2.7064 per gallon, and heating oil lost less than a penny to end at US$3.1161 per gallon.
Natural gas fell 4.9 cents to finish at US$3.745 per 1,000 cubic feet.
Benchmark crude rose US$1.28 to settle at US$96.80 per barrel on the New York Mercantile Exchange. Benchmark oil hasn't traded above US$96 in more than three months.
Brent crude rose 44 cents to end the day at US$115 per barrel on the ICE Futures exchange in London.
Prices rose as Iran's president vowed to press ahead with the country's nuclear program. The UN nuclear atomic energy agency said yesterday for the first time that Iran is suspected of conducting secret experiments whose sole purpose is the development of nuclear arms.
Meanwhile, the world's thirst for oil continues to grow. Developing nations in Asia and the Middle East have been importing more barrels as they build factories and their people buy more cars. The Organization of Petroleum Exporting Countries said yesterday that global oil demand should rise to a record 92.9 million barrels per day by 2015. That's up 1.9 million barrels per day from the previous forecast.
OPEC said it was making the change to reflect a "swifter than expected" recovery in energy demand since the recession.
In other Nymex energy trading, gasoline fell 2.18 cents to finish at US$2.7064 per gallon, and heating oil lost less than a penny to end at US$3.1161 per gallon.
Natural gas fell 4.9 cents to finish at US$3.745 per 1,000 cubic feet.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
