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Home / Metal News / Oil Rises on Libya Conflict, Supply Concerns

Oil Rises on Libya Conflict, Supply Concerns

Mar 22, 2011 10:21

Source:SMM

NEW YORK, Mar. 22 -- U.S. crude oil price rose as a Western coalition airforce struck Libya and unrest in several Middle East countries caused concerns about crude supply safety.

Light, sweet crude for April delivery gained 1.26 dollars to settle at 102.33 dollars a barrel on the New York Mercantile Exchange. In London, Brent crude for May delivery also rose and last traded near 115 dollars a barrel.

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