Wednesday 23 March 2011

Oil up in Asia as Libya unrest stokes supply fears - Maktoob News

Crude rose in Asian trade Wednesday as unrest in Libya and the region continued to stoke supply fears, analysts said.

New York's main contract, light sweet crude for delivery in May, gained 26 cents to $105.23 per barrel while Brent North Sea crude for May was up 51 cents to $116.21.

"The issues of Libya and Yemen have been driving prices of crude oil up, although Yemen is a small exporter and Libya has been more significant," said John Vautrain, vice president for Purvin and Gertz energy consultancy.

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