February 24, 2011 8:50 AM

printer

US crude oil hits $ 100 per barrel for first time since 2008

The price of Brent crude oil has hit 111 dollars a barrel and U.S crude also rose in price as worries persist about the unrest in Libya. Markets are concerned that the trouble could worsen in key oil producing countries affecting supplies and hitting growth. The price of Brent rose more than 5 dollars a barrel to 111.25 dollars. The U.S light sweet crude oil prices hit 100 dollars a barrel for the first time since October 2008. Spanish oil firm Repsol and Italy's ENI partly suspended operations in the North African country earlier this week. Libya is the world's 12th-largest exporter of oil and the majority of its output goes to Europe. The French President Nicolas Sarkozy has called on European leaders to suspend economic ties with Libya.

Most Read
View All arrow-right

No posts found.