U.S. crude oil futures climbed to 2-1/2-year highs, today, on fears that output disruptions in Libya may spread to other West Asian oil producers and hurt global economic growth. At last three oil companies have halted output in Libya, which pumps 1.6 million barrels per day, or nearly 2 percent of global supply. So U.S. crude rose as high as 96.08 dollars a barrel, its strongest level since October 2008. Brent crude gained 77 cents, to 106.55 dollars a barrel.
News On AIR | February 23, 2011 2:12 PM
U.S. crude oil at 2-1/2-year high