Dhaka, Bangladesh (BBN)– Crude oil prices rose to a three-month high level above US$ 82 per barrel on Tuesday to trade at around US$ 82.55 per barrel. A weakening US dollar impacted oil prices.
However, crude oil prices pared its gains as actual inventory data on Thursday showed that US gasoline stocks rose 729,000 barrels to 223 million, against forecast for stocks to be down 400,000 barrels.
At the end of the week, West Texas Intermediate crude was hovering around US$ 81.96 per barrel levels.
On the other hand, gold prices rebounded to reach two week highs of US$ 1,202.85 on Wednesday as physical buying of the precious metal spurred gold to trade above US$ 1,200 per ounce.
Investors noted buying of physical bullion from Indonesia and Thailand, while expectations of greater Chinese bullion purchases helped keep Gold prices steady. At the end of the week, gold was trading around US$ 1,195.85 per ounce.
BBN/SSR/SI/AD-07Aug10-10:34 am (BST)
