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Wednesday, January 12, 2011
Oil price closes in on $100 a barrel on higher demand and Alaska leak
It was one of the City’s main predictions that the oil price would crash through $100 per barrel in 2011. But no one thought it would be testing that level quite so quickly.
Brent crude, the oil sold in London, rose above $98 for the first time since 2008 this morning and Kuwaiti authorities are now forecasting that the oil price will top $110 in the next few weeks.