LONDON, May 10: World oil prices rose strongly Tuesday amid forecasts of higher global demand later this year that could outstrip supply despite increased output by the Opec, analysts said. New York’s main contract, light sweet crude for delivery in June, increased by 77 cents to $52.80 per barrel in early deals after peaking at $53 for the first time since April 27. In London, the price of Brent North Sea crude oil for delivery in June surged by 90 cents to $52.19 per barrel after an intra-day high of $52.41.—AFP
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