Oil buoyant amid talk of $100 crude
AFP, London
World oil prices rose strongly Friday in the wake of a banking study that forecast crude could eventually trade at more than 100 dollars per barrel, fuelled by robust world demand for energy. New York's main contract, light sweet crude for delivery in May, rose 35 cents to 55.75 dollars per barrel in electronic deals after closing up 1.41 dollars on Thursday. In London, the price of Brent North Sea crude oil for delivery in May advanced 71 cents to 55 dollars after soaring 2.20 dollars to close at 54.29 dollars the previous day. Prices began soaring Thursday after the investment bank Goldman Sachs warned of a possible "super-spike" in oil prices above 100 dollars. “We believe oil prices have entered the early stages of a super-spike period," said analyst Arjun Murti, who raised his price range to 50-105 dollars a barrel from 50-80 dollars.
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