Oil prices top $ 103 a bar­rel

Townsville Bulletin - - Investor -

OIL prices rose above $ 103 a bar­rel in Asia yes­ter­day as traders wor­ried the United Nation’s au­tho­ri­sa­tion of mil­i­tary strikes against forces loyal to Libyan leader Muam­mar Gaddafi could pro­long the con­flict and threaten oil ex­ports. Bench­mark crude for April de­liv­ery was up $ 1.59 at $ 103.01 a bar­rel at mid­day Sin­ga­pore time in elec­tronic trad­ing on the New York Mer­can­tile Ex­change. The con­tract added $ 3.44 to set­tle at $ 101.42 on Thurs­day. In Lon­don, Brent crude was up $ 1.24 at $ 116.14 a bar­rel on the ICE fu­tures ex­change.

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