(Bloomberg) -- Crude oil rose to a record close of
$78.21 a barrel in New York on speculation demand will outpace
supply as refiners increase fuel production.
Bets on rising prices by hedge funds and other speculators
rose to a record earlier this month, according to U.S. Commodity
Futures Trading Commission data. Global demand will climb 1.7
percent in 2008, showing no sign of slowing because of high
prices, a Deutsche Bank AG report showed. A government report
tomorrow may show U.S. oil supplies fell for a fourth week.
Read more at Bloomberg Commodities News
$78.21 a barrel in New York on speculation demand will outpace
supply as refiners increase fuel production.
Bets on rising prices by hedge funds and other speculators
rose to a record earlier this month, according to U.S. Commodity
Futures Trading Commission data. Global demand will climb 1.7
percent in 2008, showing no sign of slowing because of high
prices, a Deutsche Bank AG report showed. A government report
tomorrow may show U.S. oil supplies fell for a fourth week.
Read more at Bloomberg Commodities News
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