Oil on the Nymex rose to US$107.3 per barrel while Brent crude rose by almost a dollar to US$111.1 per barrel. Oil prices have spiked amid rising unrest and violence in the Middle East, but abundant global oil supplies have aided in keeping the hike under check.
In the Middle East, Egypt is under a state of emergency. In Libya, strikes at oil facilities have curtailed production; and in Iraq, a bomb attack halted oil flowing through an export pipeline. Analysts estimate that concerns about those countries have added $6 or more to the price of oil.
17-Aug-13 
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