Crude oil prices extended their rally on Thursday to reach the highest level since August 2008 at $109.41 a barrel, where the ongoing political unrest in Libya continued to support crude oil prices.
Meanwhile, news emerged that an earthquake of 7.4 magnitude hit Japan, however, oil prices continued to rise, where investors are still focused on the political crisis in Middle East.
Crude oil prices could fall on Friday amid the lack of economic news in the United States, moreover, some investors and traders might be looking to close their positions ahead of the weekend.
Originally posted here
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