London (AFP) — gas prices hit a record 26-month by Friday, lifted by freezing weather and the u.s. popular before pulling low registry space before going on the holiday of Rosh Hashanah.
At about 0430 GMT London Brent North Sea bots for delivery in February Lspkit 94.74 dollars per barrel – the highest point since October 2008.
A contract was later dollars 93.86, down 39 ¢ from Thursday's closing level.
The main contract in New York, light sweet crude for delivery in February, he rallied 1.03 dollars to 91.51 on Thursday, when he hit a similar 91.63 peak 2008. A vibrant Exchange of New York closed on Friday.
"Today, due to a lack of economic news and most of the markets closed Christmas break, storage will be fine attention to any potential goes to the movements of the currency," said analyst Sucden Myrto Sokou.
"As we approach the year end, crude oil prices in recent hrali shows the basic strength on the market.
"In General, it seems that there is a strong outlook for the market of oil, crude oil prices continues their upside momentum and support very blocking strong over 90-dollar-per-barrel."
This week, icy weather conditions throughout Europe, the countries of the northeastern United States — he said what forecasters last until the end of the year – raised prices because it increases the demand for heating oil.
Market also spiked higher following the news of the day of u.s. crude reserves as ascending demand a deep consumer of oil in the world.
U.s. Stocks slumped 5.3 million barrels bots week to 17 December, more than double the market expectations of 2.3 million barrels drop, reflecting the demand for strengthening bachlla largest in the world.
"Cold weather in Europe has increased demand for distillate fuel, we have seen good demand here in the u.s. too, due to cold weather," said Andy Lipow oil Lipow Associates.
"Increasing demand of oil in the world, in the short term weather cold that contributes to why," he said.
Some of the economic data released on Thursday in the United States showed a stabilisation of the claims of the housing market, improve, a rise in consumer spending, further bolstering trade.
The market was also supports data week impressive demand from China.
Chinese oil consumption data for November released Tuesday in a "high record of 9.33 million barrels a day (mdb)," Barclays Capital said in a report.
Level was "??"??????? 1.145 mbd (14 percent) year on year growth rate of the year on year since February this year, most powerful, he said.
"Fourth quarter has seen demand growth acceleration of Chinese oil again."
The market is also weak madolr support, which enables oil decreases dollar cheaper for buyers through stronger currencies. In turn, which tends to stimulate demand and prices.
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