London oil prices eclipse New York on surging Asian demand for crude

LONDON (AFP) – Oil prices in London are trading higher than those in New York for the first time in four years, owing mainly to surging Asian demand for North Sea and west African crude, analysts said. “It is fairly unusual for Brent to trade at a premium,” said Investec analyst Bruce Evers. And even the United States — the world’s biggest economy and the largest consumer of crude — sought to buy more Brent crude “because they are finding it very difficult to get their hands on light sweet crude”, Evers added.

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