Indonesia crude price reaches $72.53 per barrel in Oct.

Indonesia Crude Price (ICP), Indonesian basket price of oil, reached US$ 72,53 per barrel in October, up from US$ 67,07 in September, Directorate General of Oil and Gas? website said on Monday.

Minas/SLC, the benchmark crude, reached $ 75,45 per barrel, up from $ 68,91 in the previous month, the website said.

The ICP increase came in line with the rise in crude prices on the international market as a consequence of rising demand of the fuel.

Another factor is the weakening of the US dollar as a consequence of the U.S. large deficit. This prompts people to divert their investment to commodities. (godang)