The price of oil passed $103 a barrel and a new record on Friday as “the prospect of lower interest rates attracted fresh capital to the oil market”, news agency the Associated Press reported. An oil trader interviewed by BBC News said more Middle East and North Sea oil priced in euros and the weaker dollar meant “the difference had to be made up somewhere”. Early trading by Asians in New York and later by Britons pushed oil to $103.05 a barrel before it fell back again ahead of lunch in London.
Source: BBC News
No comments:
Post a Comment