Oil tops US$105
NEW YORK, United States — OIL prices pushed above US$105 per barrel yesterday, as traders focused on a series of international crises that could tighten global supplies at a time when consumption is expected
to increase.
Benchmark West Texas Intermediate for May delivery rose US$1.88 to settle at US$104.97 a barrel on the New York Mercantile Exchange. At one point it was as high as US$105.18.
The April contract for WTI crude climbed US$1.67 to settle at US$104 per barrel on its final day of trading.
In London, Brent crude gained 73 cents to settle at US$115.64 per barrel on the ICE Futures Exchange.
Energy economists continued to gauge how recent unrest in Libya, Bahrain, Yemen and Syria will affect exports from a region that produces 27 per cent of the world’s oil.
