Oil prices are edging higher on Wednesday morning following the previous session's sharp correction after Saudi Arabia's assertion that it could meet any supply shortfall and an earlier than expected return of Libyan capacity.
The front month Brent North Sea oil contract was last seen USD 0.35 firmer day on day at USD 124.47/bbl while WTI on Nymex last traded USD 0.58 firmer at USD 106.65/bbl.
"We saw the biggest fall in about three months yesterday...but the drop in stocks is lifting prices again today,” one trader said, but added that the comments from Saudi Arabia would "probably” limit
Mittwoch, 21.03.2012, 08:21 Uhr
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