The turmoil in Libya – Africa’s fourth largest oil producer – has sent crude prices soaring, pushing the price of Brent North Sea crude up to as much as $108.57 per barrel on Wednesday, the highest level since September 2008.
REUTERS - Brent crude futures rose on Wednesday as Libya's ongoing turmoil fuelled fears the unrest could spread to other oil producing nations and choke supplies.
Brent crude futures were $1.30 up at $107.08 a barrel by 1000 GMT, having hit a 2-1/2-year high of $108.70 on Monday. U.S. crude futures <CLc1 firmed by 51 cents to $95.93 a barrel by the same time, the highest level since October 2008.
Date created : 2011-02-23