Oil prices top $ 103 a barrel
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.