Oil price leaps to six-month high
12 April 2012
PETROL prices could rise in the next few weeks after the cost of crude oil hit a six-month high overnight. Strong demand from America, the world's biggest customer for fuel, fears of an extension of the Middle East conflict and the annual meeting of Arab foreign ministers in Beirut combined to send crude prices soaring.
US light crude rose to $25.89 a barrel, its highest since last September. American stocks of oil have been slipping as demand for gasoline from US drivers remained unusually high due to a relatively mild winter.
