London/Singapore (Reuters)-oil floating around its higher levels than the two Friday, supported by cold weather around the globe, the appetite for risk assets and signals from OPEC it won't stop the hrali.
In Europe, benchmark Brent ICE bots for February close 48 ¢ $93.46 Friday after hitting 94.74 barrel, the highest level since October 2008.
Contracts bots of benchmark global in the u.s., which hit high 26-month of $91.63 Thursday, Friday, with floor trading NYMEX closed for Christmas.
Brent, trading at a premium to u.s. crude, has surged due partly to severe cold snap in continental Europe, and the United Kingdom.
Cloudy stuck in thousands of holiday travelers in Europe on Friday, threatens to prolong the chaos all airlines and train additional improve fuel demand.
Analysts said the oil may continue its global demand hrali strong inventories fall in 2011, which promises to be a strong year for risk assets such as confidence about the global economic recovery selects.
Reuters Jefferies CRB index of 19-merchandise (CRB) closed on Thursday its highest level since October 2008.
"With the continuous commodity index the new publication of all time highs, the S & P that supports breadth, it is difficult not to keep our bullish commodity and capital markets outlook heading into the first quarter of 2011," Barclays Capital said in a note.
"The last brought us all tourism barrel within range for Brent Botot."
OPEC sees a need for more oil
Of the most influential OPEC oil Minister Ali al-Naimi, Saudi Arabia, said on Friday he was still happy with the price of oil of 70 $-$ 80 per barrel and there was no need for extra OPEC meeting before the next scheduled one in June.
OPEC ministers are meeting in Egyptian Arab capital in this weekend that they should discuss oil production and prices, but no formal decision on the output is met.
Minister of oil united Arab Emirates said he wanted to better comply with OPEC cuts output group agreed in late 2008, and added to the current price does not reflect the basics. That chimed with the standing of OPEC oil that demand remains fragile and vmtoochim blame for hrali.
Speaking in Cairo, only the new Minister of oil in Iraq said Škrtel can meet prior to July if market conditions change, but then added that if the decision was taken to be "about price. It's designed to market conditions. "
"There are a limited number of appointments OPEC to limit its market interference," Abdul Karim Luaibi told Reuters.
Inflationary concerns
The climb of the oil more than 30 percent lower than in May of this year has revived concerns prices again could influence economic growth for fuel import countries.
The Finance Minister of South Korea warned on Friday that the buyer's fifth-largest crude oil domestic inflationary pressures in the coming year.
In India, the Government is expected to decide next week raise fuel prices mode set to cushion domestic oil retailers [ID: nSGE6BM06Q]
China, the second largest energy user in the world, raised prices of gasoline, diesel outline records on Wednesday as intended to encourage refiners to increase supply meet demand.
The Government said the companies transport forwarding ?????? rise to the population. Higher prices of goods helped raise the Chinese consumer inflation high 28 November.
(Additional reporting by Peng Seng Lee; editing by highlighting and Thomas Sue)
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