Econintersect: 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.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
