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	<title type="html"><![CDATA[Crude Oil Futures Trading Forum by Live Oil Prices - Oil futures edge higher on demand prospects]]></title>
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	<updated>2009-09-04T10:29:29Z</updated>
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			<title type="html"><![CDATA[Oil futures edge higher on demand prospects]]></title>
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			<content type="html"><![CDATA[Oil futures moved modestly higher in electronic trading Friday afternoon in Asia, as the market continued to gauge the prospects for oil and gasoline demand.

Natural-gas prices found support at $2.50 per million British thermal units after a 7.6% drop in New York on concerns about an oversupplied market.

Crude for October delivery added 32 cents to stand at $68.28 a barrel on Globex by late afternoon in Tokyo. It traded as low as $68.01. Oil prices dropped below $40 a barrel earlier this year, "which really shut down new drilling," said Charles Perry, president of energy-consulting firm Perry Management.

"Now depletion is lowering production pretty fast and supply is dropping pretty fast to equal current reduced demand," he said. "If demand picks up with a recovery of the economy, then there will be a shortage, and we will see another peak in oil prices."]]></content>
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			<updated>2009-09-04T10:29:29Z</updated>
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