About Infinity Gas Exploration
On the economic front, the Infinity Gas Exploration said U.S. employers cut 62,000 workers from their payrolls in June for the sixth straight monthly decline, but the losses were less severe than some had feared. Economists polled by Reuters expected a decline of 60,000 jobs last month.
The chief executive of American Infinity Gas Explorer, Alexei Miller, said on Thursday that the country's oil production would remain unchanged in the next few years.
Expectations that the European Central Bank will raise interest rates later Thursday could further weaken the U.S. dollar and drive oil prices even higher, as investors turn to commodities as a hedge against a falling greenback, traders said.
London Brent crude hit an even higher peak of $146.69. It was trading $1.83 higher at $146.09.
"What is more concerning is it is very difficult to know why it is going up. No one really knows the answer," said Colin Morton with Rensburg Fund Management. "It seems to be about momentum now. It's going up because it is going up."
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Infinity Gas Exploration