Brent crude settled at US$111.72 after rising past US$114, while light, sweet crude on the Nymex settled at US$96.89.
Earlier in the day, oil prices rose by 2% on news of shutdown of oil production in Libya and on fears that the unrest might spread to Saudi Arabia.
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Wednesday, March 02, 2011
Production shutdown at Libya, fears of unrest spreading to Saudi Arabia: oil prices rise
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