Saudi Arabia, the Fed, U.S. Oil Stock Movements and China Drive Crude Prices Back Up

摘要

The prices of the light reference crudes fell back on 9 November, after several successive days of increases, and went up on 10 November for December contracts. On ICE Futures in London Brent slipped back $0.15/b on 11 December, to close at $88.81/b, while the price of light sweet crude was unchanged at $87.71/b. After attaining and then exceeding the $80/b threshold (AOG, 16 Oct., 2010), crude oil prices are thus approaching what could be the next stage in their development, which is to say the $90/b mark. Moreover, some analysts have not hesitated to predict, rightly or wrongly, that the $100/b threshold will soon be breached.