Tuesday, March 29, 2011

Tensions rise in the MENA; oil prices rise above US$105

Light sweet crude for May delivery traded at US$104.9, while Brent crude for May delivery traded at US$116.2, as rising tensions in the Middle East and Libya threatened to disrupt oil supplies. As perr analysts, Brent crude is expected to break all time records this week as no easing of allied bombing on Gadhafi's forces seems to be in sight.

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