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Reply #2: Oil rises to near $102 amid mixed US demand signs [View All]

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Pale Blue Dot Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 06:50 AM
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2. Oil rises to near $102 amid mixed US demand signs
SINGAPORE Oil prices rose to near $102 a barrel Wednesday in Asia after a crude supply report showed mixed signs about U.S. demand strength.

Benchmark crude for January delivery was up 49 cents to $101.77 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose 29 cents to settle at $101.28 on Tuesday.

In London, Brent crude was up 28 cents at $111.09 on the ICE futures exchange.

The American Petroleum Institute said late Tuesday that crude inventories fell 5.0 million barrels last week while analysts surveyed by Platts, the energy information arm of McGraw-Hill Cos., had predicted a drop of 1.3 million barrels.

http://old.news.yahoo.com/s/ap/oil_prices
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