Oil Jumps to New High in More than 2 Years on Tighter Demand/Supply Outlook
BonTradeOil rallied as encouraging US data raised expectations of stronger demand outlook, global policymakers said they will rethink their nuclear plans as Japan's nuclear crisis remains a concern and tensions in the MENA region persist. The front-month contract for WTI crude oil jumped to as high as 106.83 before settling at 106.72. Price extended to a new 30-year high of 107.65 earlier today. Corresponding Brent crude contract followed suit and soared above 117 for the first time in 2 weeks.
Original post:
Oil Jumps to New High in More than 2 Years on Tighter Demand/Supply Outlook
