Libya War Causes Crude Oil Futures To Go Higher
Crude oil futures climbed higher on Monday, raising concerns about the escalation of regional tensions due to air strikes by the United States and its allies in Libya, which will disrupt oil supply for a longer time.
The New York Mercantile Exchange's April light crude oil futures clearing price rose 1.26 US dollars to 1.3% US dollars per barrel, or 1.3%, which broke through 103 US dollars earlier this trading day.
ICE
Brent crude futures rose $1.03 to $114.96 a barrel.
The United States, France and other allies quickly rushed to support the opposition in eastern Libya last Thursday after they were authorized by the United Nations.
Allied forces launched more than 100 cruise missiles against Al-qaddafi's army during the weekend.
Libya's government forces have stopped advancing to the opposition to defend the city of Benghazi. Traders are now worried that the longer-term struggle between the two sides may cause Libya oil to be suspended for a long time, thereby pushing up the price of crude oil.
Libya produced about 1 million 600 thousand barrels of crude oil before the riots began.
According to the latest estimate, the oil day of the country
yield
It has dropped to less than 400 thousand barrels, and the embargo in western countries has in fact stopped the country's exports.
The development of the situation in the Middle East has led people to Japan.
Nuclear crisis
Concern has declined.
Engineers at Fukushima nuclear power plant seem to be making progress in controlling the nuclear crisis.
Now, traders are trying to determine when Japan's post disaster reconstruction will boost oil demand.
In April, the RBOB gasoline futures contract settlement price rose 4.80 cents to 2.9974 dollars per gallon.
Heating oil futures rose 2.82 cents in April to $3.0525 a gallon.
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