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Finotec |
Futures Fundamental | Dec 29, 2008 12:00AM GMT |
supplement its emergency oil stockpiles while prices are low
Crude oil rose for a second day after Israeli air strikes in the Gaza strip raised concerns that supply from the Middle East, the worlds largest producing region, may be disrupted. Prices also advanced as China, the world’s second-biggest energy consumer, said it will supplement its emergency oil stockpiles while prices are low, and the United Arab Emirates announced compliance with OPEC production cuts agreed earlier this month. The Crude is trading at $41.50 as of 10:00am, GMT.
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