| Oil price passes 120 dollars |
| [17.02.2012, 04:43pm, Fri. GMT] |
World oil prices crept above 120 dollars per barrel, Thursday, bringing them to a high not seen since August 2011. Brent crude traded at 120.38 dollars-a-barrel in London, with US crude prices reaching 102.69 dollars per barrel for delivery in March. It is believed one of the reasons for the price increase is because of an expected fall in North Sea production due to maintenance work and gradually dwindling reserves.There are also concerns over Iranian oil exports, as relations have become more tense between Iran’s government and Western countries, reports NTB.
(aftenbladet) |
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