Tuesday, October 27, 2009
Oil price rises above $81 level
The price of oil has risen above $81 a barrel, a new high for the year, as hopes rise that the global economic recovery is picking up pace.
US light crude rose 24 cents to $81.43 a barrel, while Brent North Sea crude climbed 25 cents to $79.76.
The price was boosted by figures released on Thursday showing China's economic growth had accelerated.
Strong results from US companies - including 3M, AT&T and McDonald's - also helped to lift the market.
DATED: 27.10.09
FEED: AW
