Oil Continues to Rise

February 23rd, 2011
in econ_news

oil well1Econintersect:  Oil prices continued to rise today (February 23) as uncertainty about turmoil in Libya and potential overflow into other oil producing countries continued.  In London, Brent crude is trading at $109.62, up 3.6% on the day.  The U.S. benchmark, WTI (West Texas Internediate), closed at $98.10 in New York.

Follow up:

The prices in recent days have marked a turn around in a price downtrend, reported by GEI News on February15.  That day marked a decline of 5.6% from January 28 to February 15 .  Since then the price for WTI has risen over 16% in eight days to today's high.

Source:  Shanghai Daily, GEI News, GEI Current Market Conditions and Bloomberg

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