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FE Home - Story

Oil surges to record high above $125

Reuters
Posted: May 09, 2008 at 1451 hrs IST
Updated: May 09, 2008 at 1618 hrs IST


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more if needed to keep pace with demand.

OPEC exports, excluding from Angola and Ecuador, will rise by 220,000 barrels per day (bpd) in the four weeks to May 24 on Asian demand and a recovery in Nigerian supplies after a strike that crippled output, said British consultancy Oil Movements.

Traders will be watching the release later on Friday of US international trade data for March (1230 GMT) and the Economic Cycle Research Institute weekly index at (1430 GMT) for potential price guidance. ...

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