Oil prices are rising after a bigger-than-expected fall in U.S. inventory. Victor Shum, senior principal at Purvin & Gertz, tells CNBC’s Oriel Morrison to expect crude to trade around $80/bbl in 2010.
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As much of the United States suffers a wave of colder weather, and with more low temperatures forecast, oil has hit its highest in five weeks, for a brief time it was above $79 a barrel. Prices have also been boosted by signs of recovery, such as last week’s improved jobs figures in th...
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Oil to Trade at $80 in 2010
