World crude future prices edged up Friday as the concerns over
energy demand shrinkage eased.
New York's main contract, light sweet crude for delivery in
September, rose 35 cents to close with 74.35 dollars per
barrel.
In London, Brent North Sea crude for September delivery settled
up 35 cents at 75. 63 dollars per barrel.
World crude future prices fell by more than 2 dollars Thursday
amid concerns over energy demand shrinkage. Twenty-one people had
been arrested in connection with a foiled plot to blow up aircraft
flying from Britain to the United States, British police said on
Thursday. The bomb affairs ignited traders' assume that world
economy may tumble on the terror threat and result in a fall of oil
consumption.
Meanwhile, OPEC said in a statement that it remains confident
that "the world is still adequately supplied with oil and that no
shortage will occur".
Traders still worry about the possibility that Iran's oil
exports would halt if the United Nations imposed international
sanctions on Teheran for its nuclear activities.
(Xinhua News Agency August 12, 2006)
