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Commodities Briefing - Categorized | Oil, Price Watch more

Oil jumps to 2008 highs on supply threat; lifts gold

Posted on 03 March 2011

From Reuters: Brent and U.S. crude oil settled Wednesday at highs unseen since 2008, when an airstrike near Libya’s oil terminal stoked fears of prolonged threats to oil supplies and pushed gold to record levels for a second day.

Brent oil settled at its highest level since August 2008 after fresh airstrikes hit Brega, about 2 km (1.2 miles) from a Libyan oil terminal. Embattled leader Muammar Gaddafi launched a land and air offensive to retake territory in Libya’s oil rich east…………………………………….Full Article: Source


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