Business News
OPEC oil price reaches nine-month high
Feb 8, 2012, 10:24 GMT
Vienna - The Organization of the Petroleum Exporting Countries (OPEC) said Wednesday that its oil price climbed to a nine-month record of 114.68 dollars the previous day.
The group's basket price rose 1.28 dollars per barrel on Tuesday, amid concerns that rebels in OPEC member country Nigeria would carry out further attacks on oil infrastructure, after a pipeline was damaged at the weekend.
Oil prices received further support from a statement by Iran's parliament speaker, Ali Larijani, who said that his country could stop oil exports to Europe at any time, analysts at Commerzbank said in Frankfurt.
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