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08:20, December 07, 2007 |
Crude prices rose above 90 dollars a barrel Thursday on the weak U.S. dollar and the Organization of Petroleum Exporting Countries' output rollover.
The dollar fell against the euro Thursday after a three-day rally that contributed to recent crude price declines.
The OPEC agreed on Wednesday to leave output unchanged, shrugging off calls from consumer nations for more supply. On Thursday Algeria's oil minister said the group could consider cutting back production if the U.S. economy falls into recession.
Light, sweet crude for January delivery rose 2.74 dollars to 90.23 dollars a barrel on the New York Mercantile Exchange.
Other energy futures also advanced Thursday. Heating oil futures rose 5.57 cents to settle at 2.545 dollars a gallon, while gasoline futures rose 8.43 cents to settle at 2.3013 dollars a gallon.
Source:Xinhua
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