Crude oil up $1/bbl after IEA positive demand forecast for 2010
11 February 2010 13:36 [Source: ICIS news]
LONDON (ICIS news) – Crude prices gained more than $1/bbl on Thursday to take Brent crude on ICE futures to above to $73/bbl on the back of the International Energy Agency (IEA) noting in its monthly oil report on Thursday that global oil demand will be 1.6m bbl/day higher in 2010.
By 12:40 GMT, March Brent crude had hit a high of $73.58/bbl, a gain of $1.04/bbl from the Wednesday close of $72.54/bbl, before easing back to around $73.45/bbl.
At the same time, March NYMEX light sweet crude futures was trading around $75.30/bbl, having hit a high of $75.42/bbl, a gain of $0.90/bbl from the previous close.
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