LONDON: Global oil prices hit multi-month highs yesterday on the back of the weaker dollar and on the eve of a key monetary policy announcement in top crude consumer the US, dealers said.
Brent North Sea crude for delivery in March rallied as high as $114.49, hitting the highest level since mid-October 2012. It later stood at $114.22 per barrel, up 74 cents from Monday’s closing level.
New York’s main contract, light sweet crude for March or West Texas Intermediate (WTI), struck $97.82, reaching a peak last seen on September 17. The contract later pulled back to $97.58, up $1.14 from Monday.
The US Federal Reserve started its regular monetary policy meeting yesterday which concludes today.
http://thepeninsulaqatar.com/business/223820-oil-prices-surge-past-114-.html
Brent North Sea crude for delivery in March rallied as high as $114.49, hitting the highest level since mid-October 2012. It later stood at $114.22 per barrel, up 74 cents from Monday’s closing level.
New York’s main contract, light sweet crude for March or West Texas Intermediate (WTI), struck $97.82, reaching a peak last seen on September 17. The contract later pulled back to $97.58, up $1.14 from Monday.
The US Federal Reserve started its regular monetary policy meeting yesterday which concludes today.
http://thepeninsulaqatar.com/business/223820-oil-prices-surge-past-114-.html
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