The crude oil prices surged to their highest levels for the past more than two years against the backdrop of increasing violence in Libya, which has fueled fears that supplies of crude oil from the Middle East and North Africa will be violated because of burning civil conflicts in the region. The U.S. light crude for delivery in April rose sharply by nearly 10% of the last regular session of the New York Petroleum Exchange on 18 February, and the price of Brent jumped to its highest level in more than two years because of anti-government protests in Libya. Brent is likely to trade between 105 and 110 dollars a barrel in the coming weeks, if the uncertainty in Libya continues. The U.S. light crude for delivery in April rose to 98.48 dollars a barrel in electronic trading yesterday, but today its price is 97 dollars per barrel. The session ended on Friday at a level of 89.71 dollars per barrel. All U.S. financial markets were closed yesterday for the celebration of National Day. The March oil futures, which expire today, the rise of nearly 9% on Friday to 93.85 dollars per barrel. Their price has risen by 16% over the past 12 months. The Brent for delivery in April, meanwhile, rising by 2.3 percent to 107.95 dollars a barrel in today’s pre-trading on the London Petroleum Exchange. During yesterday’s regular session price rose strongly by 3.1 percent to 105.74 dollars per barrel, the highest level since September 2008.
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The Crude Oil price noted strong growth jumped over 80 dollars a barrel, reaching its highest value since May. With a major contribution to this optimism, which is observed on stock exchanges and appreciation of the euro against the dollar. Quotations turned away more than 3 per cent yesterday and exchange session in New York closed at 81.40 dollars a barrel. Thus black gold delete your loss this year and is now moving with growth of 2.6 per cent from 1 January onwards. During the night oil contracts with delivery in September rose by another 0.14 percent to 81.45 dollars a barrel. Reason for optimism and buying oil gives rise to the stock indexes in the U.S. and Asia. Yesterday, the broad U.S. index, S & P 500 rose 2.2 per cent, and today splashed a wave transmit and Asian markets. Quotations provide support and appreciation of the euro, which reached a peak of three against the dollar yesterday. Today the two currencies traded at a rate of 1,3151 EUR / USD. Exchange in London yesterday of Brent oil rose 3.4 percent to 80.82 dollars a barrel.
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