The last thing we need is good news. Oil prices climbing ominously as OPEC meets
Together with expectations that OPEC's scheduled meeting this weekend will see further reductions in output also delivered upward pressure. All have encouraged a more bullish outlook for oil prices.
On 12-Mar-09, light, sweet crude for Apr-09 delivery surged USD4.70 (+11.1%) to USD42.33 a barrel on the New York Mercantile Exchange. Brent crude on the ICE Futures Europe exchange gained USD3.69 (+8.9%) to USD45.09 a barrel.
|
|
03-Mar-09 |
04-Mar-09 |
05-Mar-09 |
06-Mar-09 |
09-Mar-09 |
10-Mar-09 |
one week
|
12 month
|
|---|---|---|---|---|---|---|---|---|
|
New York Harbor |
120.05 |
123 |
118.1 |
125.6 |
124.65 |
121.08 |
0.9% |
-61.8% |
|
U.S. Gulf Coast |
115.55 |
118 |
113.35 |
120.6 |
119.4 |
117.33 |
1.5% |
-62.2% |
|
Los Angeles |
117.55 |
120.75 |
117.1 |
124.6 |
122.15 |
119.08 |
1.3% |
-62.7% |
|
119.73 |
122.37 |
118.37 |
123.43 |
122.67 |
123.2 |
2.9% |
-61.0% |
|
|
111.19 |
114.43 |
117.14 |
112.26 |
115.67 |
113.93 |
2.5% |
-61.7% |
|
|
WTI Spot |
41.57 |
45.28 |
43.54 |
45.43 |
47.01 |
45.68 |
9.9% |
-57.7% |