Oil prices have risen on the first day of the week as tensions continue rising in Libya. Brent crude has surpassed US$103 as escalating tensions in Libya fuel concerns over instability spreading across the oil-producing Arab states. Violence in OPEC member Libya has stoked fears of instability spreading throughout key oil-supplying Middle East and North Africa region. Brent North Sea crude for April delivery spiked to US$103.5, while New York's main contract, light sweet crude for delivery in March rose to US$87.3.
22-Feb-11 
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