Crude oil jumps to $103

PTI Singapore | Updated on November 10, 2017 Published on March 18, 2011

Crude prices rose in the Asian trade today, led by ongoing tensions in the oil-rich Gulf region and the impact from Japan’s nuclear crisis.

New York’s main contract, light sweet crude for delivery in April, gained $1.65 to $103.07 per barrel while Brent North Sea crude for May was up $1.56 at $116.46.

“The initial reaction to Japan is a sharp drop in oil demand in the short-term,” said Mr Jason Feer, analyst for Singapore-based Argus Media energy market analysts.

Published on March 18, 2011
This article is closed for comments.
Please Email the Editor