Analysts said that crude oil prices may rise further in light of expectations of tight supplies and continued resilience in global demand, but bad news elsewhere may prevent the market from overactivity.
West Texas Intermediate, which is the American benchmark for the price of oil, breached the $80 ceiling aggressively last week, and moved into the mid-$80 range by the end of the trading day on Friday. November was the last time WTI traded at this level.
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