Oil prices reach post-crisis two-year high

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Oil prices reach post-crisis two-year high

Post by GD on Sat 04 Dec 2010, 12:44 pm

The price of oil on both sides of the Atlantic has hit its highest level since the financial crisis.
In Europe, Brent crude futures rose to $91.58 per barrel, while in the US, West Texas Intermediate hit $89.35 - the highest levels since October 2008.
Despite the market rally, prices still remain 40% below their pre-crisis peak.
Among the factors driving prices higher are rising demand because of the global economic recovery and cold weather in Europe, as well as the weak US dollar. (from BBC)

Guess we will soon see the prices rise at the pumps...


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