Brent oil price surges ahead looks to Asian oil demand
BonTradeBrent oil prices open today’s trading session ahead of WTI oil and over $82 a barrel, posting four straight daily gains as investors look to Asian oil demand to gauge the future price of oil.
In London, Brent crude oil futures for September 2010 delivery were trading at $82.43, 08.45 GMT on the ICE Futures Exchange, slightly lower than on open.
Surging Oil Demand in Asia Boosts Brent Oil Futures
Analysts point to surging oil demand in developing economies including China to point the way forward for crude oil prices. Chinese energy consumption per unit of GDP rose 0.09 percent year on year in the first half of 2010, the National Bureau of Statistics (NBS) had reported on Tuesday.
“The underlying fact is that Asian emerging markets are still growing and so is their consumption of energy.” Sander Capital said in a report.
Surprisingly, oil prices were not depressed by a series of weak economic data released in the US Tuesday, which had stock markets on a retreat.
- Brent oil price trading near $86, get ready for $90 oil?
- Brent oil price trading near $78 on higher markets
- Brent oil price hangs at $77 as analysts expect declines
- Brent oil price trading near $74, European markets mixed
- Brent oil price dips to $78, finding $80 mark a struggle
- Brent oil price trading above $72, looks to US crude data
- Brent oil price trading over $74 on US market bounce
- Brent oil price at $82 level as Europe problems hit markets
- Brent oil price closes the week trading at 18 month high
- Brent oil price trading at 2010 highs on contract expiry
- Brent oil price surges in record trading, next stop $90?
- Brent oil price rebounds, trading back over $80 mark
- Brent oil price trading above $80 on weaker US dollar
- Brent oil price trading back over $78 on higher markets
- Brent oil price trading over $78 on rising stock markets
- WTI oil price firm over $77, looks to US dollar & markets
- Brent oil trading higher, Gulf spill not affecting price, yet..
- Brent oil price trading near $72 amid double dip concerns
- Brent oil prices trading near $80 as stock markets jump
- Brent oil price trading over $78 and looking bullish
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Brent oil price surges ahead looks to Asian oil demand
