Crude prices rise above $81 on supply fears
04 Jan 2010
Crude oil prices rose above $81 a barrel on Monday after Russia halted supplies to Belarus refineries and on hopes of gradual economic recovery in the US.
Russia halted oil supplies to Belarussian refineries after talks between the former Soviet states broke down but Belarus said it has not affected the flow of oil to Europe via that country.
This, however, has raised the spectre of another winter oil supply disruption for consumers in the European Union.
Talks between Russian and Belarussian negotiators were still continuing in Moscow.
Sweet light crude for February delivery was up at $81.16 a barrel in electronic trading on the New York Mercantile Exchange today - the highest price November 2009.
North Sea Brent crude for February delivery in London ICE Futures Exchange rose 67 cents to $78.60 a barrel.
