Crude oil prices continued to rise on Tuesday, where oil prices continued to trade above $108 a barrel, the highest level since September 2008, where the ongoing political tension in the Arab world, a region rich of oil reserves, continued to support oil prices amid concerns over the supply of oil from Libya, since the conflict between Colonel Muammar Gaddafi and rebels backed by Coalition Forces continued, while efforts to end the saga failed, and fights over control of Brega city continued.
We should expect oil prices to continue to rise over the upcoming period given that the political unrest in the Middle East region continues.
Wednesday, 14:30. The Department of Energy will release the weekly petroleum status for the week ending April 1, where the prior report showed that crude oil inventories increased by 2.9 million barrels, and the EIA is expected to show that crude oil inventories increased by 2.0 million barrels.
Originally posted here
