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Commodities Briefing - Categorized | Market Moves, Oil, Price Watch more

Egypt unrest pushes the price of oil to a 14-month high

Posted on 04 July 2013

The price of US light crude oil hit a 14-month high on Wednesday to over $100 a barrel on concerns over political turmoil in Egypt. The benchmark US crude rose $1.64 to $101.2 a barrel, its highest since May 2012, while Brent crude rose 1.76% to 105.76 a barrel.
As well Middle East worries, rising US demand for oil also boosted prices. The US Energy Department said that weekly US crude supplies fell by 10.3 million barrels………………………………………..Full Article: Source


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