(RTTNews) - The price of crude oil moved back above the $100-mark in Asian session Tuesday as worries over supply disruptions in Nigeria overshadowed concerns over debt downgrade of euro zone nations.
Light Sweet Crude Oil (WTI) futures for February delivery, gained $1.88 to $100.58 a barrel. Yesterday, the Organization of the Petroleum Exporting Countries maintained its world oil demand growth forecast for 2012 as a lower consumption in OECD is likely to be offset by higher non-OECD demand. In its monthly Oil Market Report released today, the OPEC maintained its 2012 world oil demand growth at 1.10 mbd, unchanged from its earlier assessment.
