Growth will keep oil rising until 2010

GLOBAL economic growth will keep oil prices rising to 2010 and the price per barrel could go above $100 (€78.50) per barrel in the meantime, according to an Irish oil analyst.

In that context “Irish companies would be well-advised to consider locking in fuel costs at present levels,” said Paul J Harris, head of energy and emissions at Bank of Ireland Global Markets.

The impact on business of higher energy prices is already being felt, he said.