Brent Only Inches Away from $100 a Barrel

摘要

The year 2011 has started triumphantly for oil prices, which have continued the upward trend that started in late 2010. On ICE Futures in London on Tuesday, 11 January, the price of Brent for February contracts - the earliest available - rose by $1.91 /barrel to close at $97.61 lb, after touching a high of $97.82/b during trading. The same day on the New York Mercantile Exchange (Nymex), the price of light sweet crude, also for February, gained almost as much, $1.86/b, but the gap between the two crudes widened even further, since the American crude closed at $91.11/b, after reaching a peak of $91.39/b during the day. Brent was thus fetching a premium of $6.50/b relative to its American rival. As for the OPEC crude basket, it was worth $92.92/b on 11 January, which was more than the closing price of light sweet crude that day. There were further gains on 12 January, when light sweet crude rose $0.75/b to $91.86/b at the close and Brent $0.51/b to $98.12/b.