Global oil prices

Global oil prices advanced above $81 a barrel in Asian trade Friday on expectations of increase in energy demand. Light sweet crude for December delivery was seen trading at $81.17 a barrel at 12.00 noon Singapore time while Brent crude was at $82.45 a barrel in London. On Thursday, oil prices fell as traders took profits from a rally the day before and the US dollar rose. New York’s main contract, light sweet crude for delivery in December, dropped $1.98 to $80.56 a barrel while Brent crude for December delivery was at $81.83 a barrel. The dollar’s rise against key currencies added pressure to the commodities market, pushing oil prices down with traders also seeking to make some profit. (QNA)