Serial of events pushes the Crude Oil to set record high level for this winter season. The Crude Oil rises with about $2 for the last few hours in rising fears for the cold winter in the north part of the world. The extreme cold weather in Europe and United States will cause rises in oil demand. The rising problems in Indian Ocean especially close to the Somalia cost is also reason for the rising Crude Oil. The Crude Oil price rises in the last 10 days. The weather forecasts remain mixed with continue cold temperatures that will keep the oil prices above $80.
The New York Light Sweet Crude Oil is trading at $83.02 at 15:25 Eastern Time. The World-Signals.com forecast for the coming couple of days is mix trading with little correction downward and continue the upward trend to $85.