Text Version
RSS Feeds
Newsletter
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  SERVICES
  -Text Version
  -RSS Feeds
  -Newsletter
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
 -
 -
Oil jumps above $73 on stronger energy demand outlook
+ -
08:10, June 12, 2009

Click the "PLAY" button and listen. Do you like the online audio service here?
Good, I like it
Just so so
I don't like it
No interest
 Related News
 Gold soars on inflation worries as oil touches 7-month high
 Crude prices fall 3.5% on unexpected inventory rise, stronger dollar
 Oil jumps 3.4% on expanding recovery optimism
 Power consumption continues to drop, oil sales set new high
 Oil hits $65 on inventory decline
 Comment  Tell A Friend
 Print Format  Save Article
Crude prices surged to a new high for the year on Thursday after the International Energy Agency (IEA) raised its 2009 oil demand forecast for the first time in ten months.

The Paris-based organization raised the global daily energy demand to 83.3 million barrels in its latest monthly report, still2.9 percent lower than last year but 120,000 barrels higher than its May estimate. It's the first time for the organization to raise its oil demand estimate since August.

Given the recent fall in U.S. crude and fuel stockpiles, more investors began to believe that world energy consumption was going to pick up later this year along with economic recovery.

Adding to crude's advance was data from China, showing the country's oil import in May rose 5.5 percent from a year ago, the second-highest volume on record.

Meanwhile, the U.S. dollar fell against a basket of currencies on Thursday, helping push oil prices even higher.

Light, sweet crude for July delivery jumped 1.35 dollars, or 1.9 percent, to settle at 72.68 dollars a barrel on the New York Mercantile Exchange, after touching the height of 73.23 dollars a barrel during the session.

In London, Brent crude for July delivery rose 84 cents to 71.64dollars a barrel on the ICE Futures exchange.

Source:Xinhua



  Your Message:   Most Commented:
Controversy over China's first sex-theme park
Former French diplomat says no to "China threat"
China slams U.S. foreign affairs bill proposal, urges deletion
Congress wins election in India
China slams Clinton's June 4 comments

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved

http://english.people.com.cn/90001/90778/6676820.pdf