| Oil Prices Rise Again |
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| Thursday, 26 May 2011 00:00 | |||||||
Page 1 of 2 Oil Prices Rise AgainNew York (AFP) - Oil prices pushed up to the second day in a row to surpass 101 U.S. dollars a sharp increase in assisted estimates of two U.S. investment banks. In New York Nymex futures exchanges, the benchmark price for West Texas Intermediate (WTI) crude oil or "light sweet" for July delivery closed at 101.73 dollars per barrel or 1.73 U.S. dollars higher than Tuesday. In London, Brent North Sea crude for July rose 2.40 dollars to 114.93 dollars per barrel, after falling slightly in the initial transaction. The increase comes a day after Goldman Sachs and Morgan Stanley released their 2012 forecast for Brent prices to 130 dollars per barrel. Natixis analysts, Nic Brown showed that four consecutive weeks weakening U.S. demand for oil products fell four per cent compared with a year earlier. "Volatility remains high," said Michael Fitzpatrick Report Kilduff said. A026/A027 Editor: Jafar Sidik M
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