Brent Crude Near $117/B

Published on Tuesday, 18 Sep 12:43 pm

Brent crude rose for the 8th consecutive session on Monday to just below $117/B, though prices stayed under a four-month peak hit on Friday on worries that high oil prices could hamper efforts to boost a struggling world economy. Oil has been boosted by the Fed aggressive moves last week to stimulate the US economy, but Brent crude’s rally of about a third since late June could backfire by undermining demand in a fragile economy (Reuters). Brent crude for November delivery rose 26 cents to $116.92/B.

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