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Oil prices climbed in March, April

04/20/2009
By NINA RACH
After trading at lower levels for 4 months, benchmark oil prices climbed above $50/bbl in late March and early April, exceeding $52/bbl in light trading Apr. 9 ahead of commodity markets closing for the Good Friday holiday in New York and London.For 4 weeks through Apr. 9, the May crude contract finished each week on the New York Mercantile Exchange at virtually the same price as the previous week, said Olivier Jakob at Petromatrix, Zug, Switzerland.Oil prices, however, fell below $50/bbl in early trading Apr. 13 amid negative economical indicators after the Paris-based International Energy Agency again reduced its 2009 estimate of world demand for oil. Based on its reassessment of world ...
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