Oil prices head for four month high

16/09/2012

By Marcus Leach

With the Federal Reserve stimulating the US economy last week there has been another rise in the price of oil, with Brent crude heading for a four month high.

A further $40 billion was pledged to the US economy on Thursday, and oil prices have now risen for an eighth session in a row.

Brent crude for November delivery was up 26 cents at $116.92 a barrel, while US crude was up 1 cent to $99.01.

There are fears that high oil prices could hamper economic recovery.

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