Oil prices are sustaining Friday's sharp price gains on Monday - hitting their highest levels since 2008 - on the back of growing political unrest in Egypt, which may send Brent to USD 110/bbl and beyond, players said.
The front month contract for Brent North Sea crude oil was last seen changing hands at USD 99.56/bbl on the ICE platform, up USD 0.14 on Friday's close. On Nymex, the WTI March contract was last seen at USD 89.43/bbl, up USD 0.09 on Friday's close.
While no oil producing capacity was threatened at the moment, a spreading of the unrest in Egypt - where more than 100 people
Montag, 31.01.2011, 08:14 Uhr
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