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Oil at 11-month high
- Saturday, July 14 - 2007 at 07:33
Oil moved above $77 a barrel Friday, reaching a new 11-month high. Markets reacted to a fresh report by the International Energy Agency predicting world fuel demand would grow more quickly in 2008 despite near-record prices, according to Reuters. Supply concerns and a flood of speculative money into the market are also supporting prices.
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James McInerney, News EditorSaturday, July 14 - 2007 at 07:33 UAE local time (GMT+4)
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