The oil markets recorded a strong year in 2007 with prices (basis first month WTI) rising steadily from around $54/bbl in January to an average $94/bbl in November. Prices hovered in the $87-92/bbl range for the better half of December, before racing to $96/bbl by year end against rising geopolitical tensions and increasing demand for heating fuel due to fresh winter storms.
展开▼