By KUNA
Kuala Lumpur : Prices of oil have risen furher amid concerns that these record hikes of the crude price may stem demand at a time supplies are increasing.
In last night’s operations, according to regional indices, the price of the crude rose to USD 111 per barrel, after the American currency’s rate vis-a-vis the Japanese yen slipped for the second day in a row below 100 yen, in addition to its fall against the euro and the rise of gasoline supplies to record levels, unseen since 1993.
The crude price for the next month’s deliveries dropped by 60 cents, reaching USD 109.73 pb.
Last night’s trade ended at the level of USD 110.33 pb after climbing to USD 111 pb, the highest since 1983.
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