Bank Of Baku

Oil prices move up

Oil prices move up
# 06 January 2009 09:02 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. Oil prices have risen from around $35 a barrel since Israel launched its Gaza offensive on Dec. 27, heightening fears of possible disruptions of crude supplies from the Middle East.
U.S. crude gained $2.47 to settle at $48.81 US a barrel after touching a three-week high of $49.28. London Brent rose $2.40 to $49.31 a barrel.
Oil remains down nearly $100 a barrel from its peak in July as global economic turmoil cuts into fuel demand.
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