Crude oil prices recovered again on fears that...
Crude oil prices recovered again on fears that OPEC countries would cut back production to halt the recent price fall, and the disorders on Nigeria?s oil platforms run by Shell and ChevronTexaco for two days.
An attack by suspected Muslim militants on a United States consulate in Saudi Arabia also triggered oil prise rising.
US light sweet crude closed trading on
Monday up 44 cents at $42.98 on the NYMEX, while London?s Brent crude traded at $39.65 a barrel, up 29 cents on the day on the IPE.
Last week 14 % drop in oil prices were caused by warmer weather in North America and healthier US fuel stocks.
The sudden fall in oil's value has concerned some Opec members.
Kuwaiti Oil Minister Sheikh Ahmad al-Fahd al-Sabah, being concerned over sudded dip in oil prices, told reporters that there was too much oil available on the market. OPEC members are going to meet on 10 December in Cairo, Egypt.
