"Demand is very very strong," Kevin Norrish, Barclays Capital analyst, said on Tuesday.
"Demand in the US and China is growing rapidly even though they are the two countries that are the most exposed to the dollar price of oil.
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Oil: Very Very Strong Demand
Oil prices again get closer to record levels on Tuesday
Oil prices again get closer to record levels on Tuesday as the traders worried over rising demand.
Brent North Sea futures for delivery in September climbed by 15 cents to $38.05 a barrel in late trading in London.
New York's light sweet crude futures for the August delivery climbed by 11 cents to $41.75 a barrel. New York's contract rose by 39 cents to $41.64 a barrel on Monday, the highest close since the June 1 record finish of $42.33.
"Demand is very very strong," Kevin Norrish, Barclays Capital analyst, said on Tuesday.
"Demand in the US and China is growing rapidly even though they are the two countries that are the most exposed to the dollar price of oil.
"Demand is very very strong," Kevin Norrish, Barclays Capital analyst, said on Tuesday.
"Demand in the US and China is growing rapidly even though they are the two countries that are the most exposed to the dollar price of oil.
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