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Crude Oil Prices: What's Behind the Spike to $112 – And Why There's More to Come

April 22 2011, 09:07

FMX | Connect – www.fmxconnect.com - (Reported 4/22/2011)

Crude Oil Prices: What's Behind the Spike to $112 – And Why There's More to Come

Source: Money Morning

Crude oil prices rose for the third straight day yesterday (Thursday) - with more of the same to come. West Texas Intermediate (WTI) crude for June delivery rose to $111.50 a barrel on the New York Mercantile Exchange, and traded as high as $112.48, the highest intraday price since April 11. Crude prices are up by a full third so far this year.

Brent crude is trading at $123.70 a barrel on the ICE Futures Europe exchange in London. The latest surge in oil prices is not a result of new geopolitical developments - although they continue to weigh on the market. For full article, click here.

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