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Oil Prices Rebound Above 53 Dollars in London - ASHARQ AL-AWSAT English Archive
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LONDON (AFP) -World oil prices have rallied, with the price of Brent crude pushing back above 53 dollars per barrel amid higher demand for heating fuel owing to cold weather in the United States.

In London, the price of Brent North Sea crude for March delivery rose 35 cents to 53.05 dollars per barrel in electronic trading Tuesday.

New York’s main oil futures contract, light sweet crude for delivery in March, climbed 34 cents to 52.92 dollars per barrel in electronic deals.

Crude futures had closed lower on Monday as traders said that despite the colder weather, US energy inventories remained ample thus reducing supply concerns.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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