LONDON: Oil prices rose yesterday, with Brent back above $ 100, on speculation that OPEC plans to cut output — and at the end of a week in which crude futures have tumbled on weakening Chinese economic growth.
Brent North Sea crude for delivery in June gained $ 1.20 to trade at $ 100.33 a barrel approaching midday in London, after falling below the $ 100 threshold earlier in the week following weak economic growth data out of China.
Elsewhere Friday, New York’s main contract, light sweet crude for delivery in May added 99 cents to $ 88.72 a barrel.
