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Oil price on the rice
Posted 06.08.2012 11:02:20 av John Bradbury
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Crude prices rose sharply on Friday.

In London, September Brent settled up USD 3,04 to USD 108,94, the highest level since May 16.

-Oil prices rose after U.S.Labor Department reported that payrolls rose more than expected in July. The ISM’s non-manufacturing index also gained more than forecasted as well as the Standard & Poor’s 500 index gained almost two percent. Oil prices have also been supported by the ongoing unrest in Syria, which is situated in the energy-rich Middle East. The region is responsible for almost 30 percent of global oil production, according to Norwegian Oil Trading.

Expected priceband Monday ( Brent 1. pos. ) will be between 104,50—107,00 USD per barrel, according to Norwegian Oil Trading.
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