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Indeed, Brent crude prices stayed well over $100 for most of the year.
Brent crude prices are supportive and may stay high in 2012, driven by geopolitical events.
Brent crude oil for December delivery also rose 2.1 percent in London.
North Sea Brent crude also dropped, by 50 cents a barrel.
Brent crude was down $8 in the previous month.
Brent crude managed to rally on Friday, preventing a third consecutive weekly decline.
Brent Crude was trading below $100 as recently as this time last week.
With oil prices riding high at more than $28 per barrel for Brent crude, island life would be transformed.
Brent crude is trading at just over $113 per barrel, up almost 1% on the day.
Brent crude for February delivery also slipped nearly $2 on the news to $111.48.
The price of Brent crude, a benchmark, traded in London today at $15.15.
In trading there, the benchmark Brent crude closed at $30.95 a barrel, up 80 cents on the day.
In late December, Brent crude was reported as being traded at around $26.50 a barrel.
The previous night, Brent Crude had closed at $28 a barrel, up three bucks.
And the price of Brent Crude was suddenly pegged at $55 a barrel.
London Brent crude fell 81 cents to $113.21.
Brent crude, London's benchmark oil, advanced 5.9pc last week.
Brent Crude closed down $1.53 to $108.99 a barrel.
Brent crude was trading above $116 a barrel.
We continue to expect the price of Brent crude to drop back to around $85 per barrel by the end of 2012.
Brent crude rose slightly to nearly $116.
Brent Crude is presently sitting at $109.
Brent crude oil closed in London at $14.80 a barrel for August delivery, down 50 cents.
The issue, as ever, was Brent Crude Futures.
Brent crude oil lost $4.87 over the week, or 4.5pc, to $103.75 per barrel.