OL: World Oil Prices Rise on Chinese Economic Growth
The price of oil on world commodity exchanges was growing Wednesday morning as reports come in on Chinese economic growth and investor worries over the deepening economic crisis in Europe.
The price of a January futures contract for WTI light sweet crude in electronic trading on Nymex was up 14 cents to $84.25 a barrel by 7:05 Moscow time. The price of a January futures contract for North Sea Brent blend has risen 16 cents to $86.08 in London.
Oil prices fell the day before on eurozone debt concerns with January WTI contracts off $1.62 to $84.11 a barrel, while January Brent contracts were down $1.42 to $85.92.
