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Oil price jumps to new high |
| Home | (The Guardian) - Oil prices jumped to a fresh 11-month high today after a global report predicted that fuel demand would soar next year despite near-record prices. London Brent, seen as the best indicator of the global market, leapt by 82 cents to $77.22 (£37.92) a barrel by midday trading after earlier touching a new 11-month high of $77.45. Prices are now within sight of last August's all-time high of $78.65. The International Energy Agency, in its second assestment of the world market, said that fuel demand would grow more rapidly next year than originally thought. |