January 05, 2011 05:20 pm | Updated 05:20 pm IST - Vienna
The Organization of the Petroleum Exporting Countries (OPEC) issued data on Wednesday showing that its oil price climbed above $91 for the first time since September 2008 on the previous day.
OPEC’s basket price for a physical barrel (159 litres) rose to $91.27 on Tuesday, adding $1.48 since the start of the week.
This was in contrast to falling prices of futures contracts of European and U.S. benchmark oil brands.
OPEC is due to issue its next price quote on Monday, owing to holidays.
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