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Oil prices shadow $100 in Asian morning trade

Oil prices shadow $100 in Asian morning trade
AFP
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First Published: Thu, Feb 28 2008. 09 33 AM IST
Updated: Thu, Feb 28 2008. 09 33 AM IST
Singapore: World oil prices rose Thursday and hovered around $100, supported by a weakening US dollar that fell to a new low against the euro, dealer said.
In early morning trade, New York’s main contract, light sweet crude for delivery in April, rose 29 cents to $99.93 a barrel.
The contract, Wednesday, had touched an all-time high of $102.08 per barrel in pre-market electronic trade but closed $1.24 lower at $99.64 a barrel Wednesday at the New York Mercantile Exchange.
Brent North Sea crude for April rose 27 cents to $98.54.
In London Thursday the contract reached a record peak of $100.53 before closing down $1.20 at $98.27.
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First Published: Thu, Feb 28 2008. 09 33 AM IST
More Topics: Oil | Asia | Money Matters | Commodities |