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Friday, December 28, 2007

Oil prices at month-highs after Benazir killing

World oil traded above 97 dollars a barrel in Asia on Friday, its highest level in a month, following the assassination of Pakistani opposition leader Benazir Bhutto, dealers said. They said the rise in prices was also supported by a US report showing a higher-than-expected drop in US crude stockpiles. In morning trade, New York's main contract, light sweet crude for February delivery, was 39 cents higher at 97.01 dollars a barrel after closing 65 cents higher in New York. Brent North Sea crude for February rose 23 cents to 95.01 dollars a barrel after a jump of 84 cents in London trade on Thursday. Trading volumes remained thin amid year-end holiday celebrations.

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