Chinese Demand Pushes US Crude to $108

14 April 2011 (Last Updated April 14th, 2011 18:30)

US crude climbed to $108 a barrel on increased demand from China, the world's second-largest consumer of fuel after the US. US crude rose by 16¢ to stand at $108.27 a barrel, while Brent crude rose by 10¢ to $122 a barrel, according to Reuters. The increase in oil

US crude climbed to $108 a barrel on increased demand from China, the world’s second-largest consumer of fuel after the US.

US crude rose by 16¢ to stand at $108.27 a barrel, while Brent crude rose by 10¢ to $122 a barrel, according to Reuters.

The increase in oil prices raised concerns that China will tighten its monetary policy in moves that could slow consumption.

China’s economic growth has beat forecasts, despite government efforts to slow expansion and stop inflation.