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World Business News |
Chennai News
Thursday, February 17, 2005 (New York):
Global crude prices soared to new highs, crossing the $48
barrel mark.
New York's main contract, light sweet crude for delivery in
March, climbed 1.07 to $48.33 a barrel in closing deals
yesterday, its highest level since January 27.
In London, the price of Brent North Sea crude oil for
delivery in March rose 76 cents to close at $46.15 a barrel.
Meanwhile, the Organization of Petroleum Exporting Countries
(OPEC) raised its forecast for 2005 global oil demand
following upward revisions to world economic growth.
OPEC said it saw world oil demand this year of 83.78 million
barrels per day - a rise of 2.11 percent compared to the
previous year.e hidden agenda of these forces."
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