Crude oil futures for August delivery in New York rose 87 cents, or 0.6 percent, to a record $144.44 a barrel in after- hours electronic trading today. The contract was at $144.24 a barrel at 12:20 p.m. Singapore time.
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Medvedev States: “Oil Prices Will Reach $150 a Barrel”
Dmitry Medvedev, the president of Russia, the world's second-biggest oil producer, expects prices to rise to $150 a barrel and retard global growth...
Dmitry Medvedev, the president of Russia, the world's second-biggest oil producer, expects prices to rise to $150 a barrel and retard global growth.
Russia is in its 10th year of economic growth, boosted by record oil prices that doubled in the past year to record highs. Gross domestic product expanded by 8.5 percent in the first quarter, the second fastest pace since 2000.
Oil prices have climbed on concerns that future supplies will be unable to meet demand from emerging economies such as China and India. Crude has also gained as the U.S. dollar declines and investors buy commodities to hedge inflation.
Crude oil futures for August delivery in New York rose 87 cents, or 0.6 percent, to a record $144.44 a barrel in after- hours electronic trading today. The contract was at $144.24 a barrel at 12:20 p.m. Singapore time.
Crude oil futures for August delivery in New York rose 87 cents, or 0.6 percent, to a record $144.44 a barrel in after- hours electronic trading today. The contract was at $144.24 a barrel at 12:20 p.m. Singapore time.
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