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Brent crude traded in London, hit $88.80 of falling to $88, which is slightly lower highs seen in the spring. But New York prices topped their highest in two years, touch $87.22 barrel at a time given, front retreat on late trading potential dollar.

Analysts have begun to predict the price of crude oil reach $90 before the year is out and top $100 per barrel in 2011.

This week, JP Morgan raised its average 2011 forecast for New York crude oil traded $89.75 82.50, per barrel after the United States Federal Reserve said that it would continue with the quantitative easing.

"It is always fed Wednesday which is stimulating oil prices" said analysts of Commerzbank."Additional cash pumped into the market by buying the Treasury of the Federal Reserve should also meet the commodity markets and thus leads to the increase in oil prices. What level higher prices reflect the weakness of the US dollar which is a direct consequence of the monetary policy of the United States ultra-expansive.?

Global demand for oil has increased 1 m barrels a day in 2010 - increasing to an amount of double previous forecasts.Prices have increased this week when Ali al-Naimi, the Minister of Saudi Arabia oil predicts prices from $ 70 to $ 90 rather than his previous 70 80 $ .libye, another Member of the OPEC oil cartel's estimate was forecast oil $ 100 at the end of the year.

"The current oil price is widely supported polls fundamental demand continuous and increasing in developing countries while the quantitative easing in the United States has weakened the dollar, and added some foam at the price of crude," said Andrew Moorfield, head of the oil & gas at Lloyds TSB.

Another optimistic factor for oil is rising prices that energy companies currently receive for their réserves.BP and Shell have been assign fields larger than the market expected this year amounts.

The evolution of securities analysts said: "" Royal Dutch Shell announced it sells reserves proved 27 m barrels of oil equivalent to an average of $16.7 barrel .c ' is another example, recent divestiture of BP, where the sale on active devices can achieve significant amounts of cash for relatively little loss of production and reserves. ""

Royal Dutch Shell has unloaded participations in gas fields mature six in deep waters of the Gulf of Mexico for $450 m (￡ 270 m).

The oil major is firing party high prices that it tries to get rid of billions $ assets this and next year.

She sold the fields produce 18,000 barrels oil equivalent per day and 27 m barrels reserve W & T Offshore Inc.

"We are focusing our investment on the most promising growth opportunities and this means that some fields that correspond to our sales strategy said Marvin Odum, Director of Shell for upstream Americas."

Shell in the Gulf of the Mexico production decreased by 4pc since the BP oil spill resulted in a ban on drilling in deep water.

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