World oil prices are rising over efforts to cope with the European financial crisis and support for oil purchases.
November futures for Light Sweet Crude Oil in New York increased by $0.2, or 0.23%, reaching $87 per barrel. November futures for Brent increased in price by $0.01, or 0.01%, to $112.2 per barrel, RIA Novosti reports.
A G20 summit was held last weekend. The European Fund for Financial Stability is taking new measures to cope with the crisis. Michael McCarthy, a market analyst from the CMC Markets Asia Pacific Pty Ltd. says that investors are becoming less pessimistic.
