Oil price kicks off 2010 with a bang today by rising above 81 dollars a barrel. Traders said the surge in prices is due to expectations of higher energy demand in the northern hemisphere winter and cutting of oil supplies by Russia to Belarus.New York's light sweet crude rose as high as 81.16 dollars per barrel. It later stood at 80.76 dollars a barrel, up 1.40 dollars. Brent North Sea crude gained 1.44 dollars to reach 79.37 dollars per barrel in London trading.
News On AIR | January 5, 2010 10:28 AM
Oil price above 81 dollars a barrel