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Crude Oil settles at 10 month high on Friday

August 24, 2009

rose about US$1 toward US$74bbl to settle at a 10 month high Friday as data in the promised economic recovery and a revival in energy demand. US Crude for October delivery settled up 98 cents at US$73.89bbl, the highest settle since October 20. Brent crude for October settled up 86 cents at US$74.19bbl gained US$6.38 on the week, about 10%, from the US$67.51 settle on August 14. The US$ was down against the , helping to support prices, with showing some appetite for risk.

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