Oil price edges up on supply disruptions

08:19, January 13, 2011      

Email | Print | Subscribe | Comments | Forum 

U.S. crude oil futures prices rose on Wednesday after the government reported a larger-than- expected drop in crude oil supplies.

The Energy Department reported the country's commercial oil supplies fell by 2.2 million barrels to 333.1 million barrels last week, more than the previous estimate of a decline of 0.3 million barrels.

Meanwhile, demand for oil has remained robust in emerging markets, particularly in Asia. Some analysts expect the price to top 95 dollars a barrel and perhaps push toward 100 dollars a barrel in the coming weeks.

Light, sweet crude for February delivery rose 75 cents to 91.86 U.S. dollars a barrel on the New York Mercantile Exchange.

Source: Xinhua
  • Do you have anything to say?


Special Coverage
  • Focus On China
  • Shanghai World Expo 2010
Major headlines
Editor's Pick
  • Trade volume of E. China's Yiwu reaches 45.606 bln yuan
  • NBA: Clippers end Heat's win streaks
  • Wild giant pandas spotted again in Mian'ning, Sichuan
  • Memorial service for mass shooting victims held in Tucson
  • Death toll rises to 10 in central China hotel fire
  • Amazing scenery of frozen waterfall in E. China
Hot Forum Dicussion