Oil prices at 10-year high

Oil prices have risen to their highest level in a decade, with Brent crude oil trading at around thirty-two dollars a barrel in London.

The rise follows a series of reports indicating low oil stocks in the United States and north-western Europe -- the main oil-consuming countries.

Further problems have been caused by confusion over how much oil is available from OPEC, the Organisation of Petroleum Exporting Countries.

Saudi Arabia said in June it was increasing its production to stabilise prices, but lately there have been expectations that the Saudis might cut back their output. The BBC business reporter says the prices could continue their rise until it is known what OPEC members are going to do about their production levels.