Crude oil prices continued to move higher last week, where crude oil prices rose above $111 a barrel and were near $112, marking the highest level since September 2008, where the ongoing tension in Libya continued to push oil prices higher, as news emerged that oil fields were a target of bombings, which ignited fears over the supply of oil.
We should expect oil prices to continue moving to the upside, so long as the political unrest in the oil-rich Middle East and North Africa regions.
Originally posted here
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