Oil rises above $95 after Gets the ready Greece slice (AP)

KUALA LUMPUR, Malaysia - oil edged above US $95 per barrel Monday in Asia, reinforced by the news that the Greece was saved from almost collapse after obtaining a vital loan episode.

Reference crude for August delivery was up 23 cents at 95.23 to $ per barrel late afternoon in times of Kuala Lumpur in electronic commerce on the New York Mercantile Exchange. The contract shed 48 cents to settle at $94.94 Friday.

In London, Brent crude for August delivery was down 24 cents at 111.53 $ per barrel on the ice future exchange.

Ministers of the countries that use the common currency of the euro agreed this weekend to pay Athens a euro 12 billion ($17,39 billion) slice of its rescue package 110 billion euro existing before 15 July, in time to meet several deadlines for repayment of bond this month and the next. Europe and the Monetary Fund International will continue to support the faltering economy of the Greece in the years to come.

"That has eased concerns that the crisis of the debt of Greece will be negative impact on economic recovery in Europe," said Victor Shum, analyst with Council energy Purvin & Gertz in Singapore.

He also strengthened the euro and weakened the dollar, arguing the oil prices, he said. Crude is priced in U.S. dollars, so a weakening of the dollar makes it cheaper oil for investors with other currencies.

Shum said a report showing a rebound in U.S. manufacturing also raised hopes of strong economic growth in the more oil in the world consuming nation.

He said trade was thin because of the anniversary of the independence party at the United States but provides that the price of oil to increase gradually up to $100 per barrel if economic news remains positive.

Oil rises above $88 the stable exit leaves OPEC (PA) (Yahoo!)

Supplies Singapore - oil price roses over $ 88 per barrel Monday in Asia, after OPEC left its unchanged gross production quota citing slowing demand and abundant.

Oil reference for January delivery rose 53 cents to $88.32 a barrel to Singapore late afternoon in electronic commerce on the New York Mercantile Exchange. The contract has lost 58 cents to settle at $87.79 Friday.

Ministers of the 12 nation organization of petroleum exporting countries said Saturday meeting in Quito (Ecuador) only one "fragile global economic recovery" and "fears of a second banking crisis in Europe" kept the agreement to increase oil production.

Many OPEC countries dependent on the sale of oil reserves in foreign currency and Government spending and are reluctant to take action to undermine the price. However, a jump in the price of the raw spark inflation and undermine economic growth globally.

"Ministers generally like the existing price," Cameron Hanover said in a report. "A few insiders have suggested a quota increase if crude oil prices break above $ 100 per barrel."

In other Nymex trading in January, contracts, heating oil reached 1.6 cents $2.47 a gallon gasoline futures added 2.5 cents to $2.33 a gallon and gas jumped 5.9 cents to $4.48 per 1,000 cubic feet.

In London, Brent crude rose 70 cents to $91.18 per barrel on the ICE Futures Exchange.

Oil crosses above $ 90 (CBC)

Oil prices have surpassed the milestone of $ 90 per barrel Tuesday in close more low on agenda as analysts expected tighter supplies would send prices above $100 by 2011.
The gain is the first time that prices rose above the level of $90 in more than two years.
Pumpjacks appear near Stettler, Alberta, in 2007. Analysts predict oil prices will reach $ 100 per barrel in 2011. (Larry MacDougal/Canadian Press)
Oil for January delivery closed 69 cents to $88.69 per barrel on the New York Mercantile Exchange.
The contract previously concluded $90.76, its highest level since October 8, 2008.
The price of oil soared more than $10 for the last two weeks.
Oil was most valuable export of Canada 2009, winning $ 42.5 billion.
Oil prices were relatively stable for more than a year, but more recently moved that the Federal Reserve announced its intention to inject $ 600 billion into the economy.
Wall Street analysts suggest rising demand in China and other emerging economies will raise the price of $100 per barrel sometime next year.
Morgan Stanley predicts that unused production capacity around the world will be reduced by half in two years, falling to levels observed in 2007 and 2008.
He said once more raise tensions on supplies and hunger in the world for oil.
A price of $90 is on top of the range considered "comfortable" by oil exporters main planet. The above prices that could crimp demand and stifling economic growth.
"This could in turn speculation that OPEC will decide actions to dampen prices extraordinary meeting at the end of week, which could take the wind in the sails of the manifestation of for some time, oil prices" said a report by Commerzbank in Frankfurt.