{"id":11722,"date":"2010-08-04T10:08:13","date_gmt":"2010-08-04T08:08:13","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/11722\/brent-oil-price-surges-ahead-looks-to-asian-oil-demand\/"},"modified":"2010-08-04T10:08:13","modified_gmt":"2010-08-04T08:08:13","slug":"brent-oil-price-surges-ahead-looks-to-asian-oil-demand","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/11722\/brent-oil-price-surges-ahead-looks-to-asian-oil-demand\/","title":{"rendered":"Brent oil price surges ahead looks to Asian oil demand"},"content":{"rendered":"

Brent 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.<\/p>\n

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.<\/p>\n

Surging Oil Demand in Asia Boosts Brent Oil Futures<\/strong><\/p>\n

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.<\/p>\n

“The underlying fact is that Asian emerging markets are still growing and so is their consumption of energy.” Sander Capital said in a report.<\/p>\n

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.<\/p>\n

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