Source Pravda.Ru

WTI oil prices open Wednesday’s trading session back at $90 per barrel

42821.jpegWTI oil prices open Wednesday's trading session back at $90 per barrel as the latest crude oil supply figures out of the US suggest a big plunge in oil inventory levels.

US Light crude oil futures for Febraury 2011 delivery was trading at $90.10 a barrel, 05.15 GMT this morning on the NYMEX, according to Live Oil Prices.

Crude oil prices were higher Tuesday, with February contracts for West Texas Intermediate crude up 21 cents to $89.58 per barrel about an hour before the close of floor trade on the New York Mercantile Exchange, while Brent crude was recently up 24 cents to $92.98 per barrel on the ICE Futures Europe exchange in London, OIL Marketer reports.

"Oil prices have been well supported above $80 a barrel since around October," said Selena Ling, head of treasury research at Oversea-Chinese Banking Corp. in Singapore. "People are growing more confident that the U.S. is not entering a double dip recession."

Crude oil for February delivery rose as much as 45 cents to $90.27 a barrel in electronic trading on the New York Mercantile Exchange and was at $90.24 at 4:14 p.m. Singapore time. Prices have climbed 14 percent this year, Bloomberg reports.

 

On December 10, 1948 the Universal Declaration of Human Rights was adopted by the United Nations General Assembly, its thirty articles enshrining basic and fundamental rights guaranteeing dignity of the human person and equality for all, regardless of race, color, creed or gender. A pipe dream?

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