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Price of oil rises above $43 on weaker US dollar

The price of oil rose more than $1 to above $43 a barrel on Monday, buoyed by a weaker US dollar and hopes that Opec members will comply with the latest supply cuts.

  • Agencies
  • Published: 08:09 December 22, 2008
  • Gulf News

Perth: The price of oil rose more than $1 to above $43 a barrel on Monday, buoyed by a weaker US dollar and hopes that Opec members will comply with the latest supply cuts.

US light crude for February delivery rose $1.02 to $43.38 a barrel, while London Brent crude gained 77 cents to $44.77.

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