LONDON, Dec 13: Oil topped $91 on Monday, hel- ped by Opec's decision to maintain the cartel's output levels, a falling dollar and a cold snap in Europe, dealers said.
Brent North Sea crude for delivery in January advanced 77 cents to $91.25 a barrel in London late afternoon trade.New York's main contract, light sweet crude for January, gained 73 cents to $88.52.
“Opec leaving output unchanged over the weekend and a dollar sell-off helped to propel crude prices higher ... in the midst of the ongoing cold snap in northwestern Europe,” VTB Capital analyst Andrey Kryuchenkov told AFP.
The Organisation of Petroleum Exporting Countries (Opec) decided on Saturday to hold its production quotas at a meeting in Ecuador's capital Quito, stressing looming risks to the fragile global economic recovery.—AFP