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Crude oil above $109 on Iran tension, Chinese data
Posted By admin On January 3, 2012 @ 4:07 am In Money Watch | Comments Disabled
January 3, 2012
Crude oil rose above $109 a barrel on Tuesday as tension between Iran and the United States stirred worries over a possible disruption to oil supplies and as Chinese data showed economic activity increasing.
Crude oil was one of the best performing assets in 2011, with Brent posting an annual gain of 13 percent, to a record average of nearly $111 a barrel, as unrest in North Africa and the Middle East disrupted supply.
And the market began the new year strongly on signs of rising demand from emerging economies and supply concerns.
ICE Brent crude futures climbed $1.92 to a high of $109.30 a barrel by 0850 GMT on the first day of trading for 2012. U.S. crude futures were up $1.77 at $100.60 a barrel after hitting an intraday high of $100.91.
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URLs in this post:
 Reuters: http://uk.reuters.com/article/2012/01/03/uk-markets-oil-idUKTRE80208820120103
 Oil pushes over $115 on Syria tension: http://www.prisonplanet.com/update-6-oil-pushes-over-115-on-syria-tension.html
 Oil rises towards $124 on Iran tension: http://www.prisonplanet.com/oil-rises-towards-124-on-iran-tension.html
 Crude oil ought to be $150 per barrel: Iran: http://www.prisonplanet.com/crude-oil-ought-to-be-150-per-barrel-iran.html
 North African Turmoil Could Rocket Crude to $220: http://www.prisonplanet.com/north-african-turmoil-could-rocket-crude-to-220.html
 Oil up over $115, Iran, Italy eyed: http://www.prisonplanet.com/oil-up-over-115-iran-italy-eyed.html
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