Selangor Journal

World oil prices continue to rise

SINGAPORE, APR 11: The United States of America’s (US) crude oil prices continue to rise in six consecutive session today reaching its highest in five weeks.
REUTERS International News Agency reported that this is supported by geopolitical tensions as caused by US missile attack on Syria and shutdown of Libyan’s biggest oilfield.
US crude oil futures, West Texas Intermediate (WTI) rose 10 cents or 0.2 percent to USD53.18 per barrel at 0009 GMT.
Market hike in six consecutive sessions, the longest high this year.
International crude oil indicator, Brent added nice cents or 0.2 percent to USD56.07 per barrel.
Libyan Sharara oilfied was shutdown on Sunday following a pipeline linking it to an oil terminal was blocked, said a source from Libya.
The oilfield just started production after a one-week shutdown which ended early this month.
That supported oil price increase which started last week after US launched air-strike on Syria’s airbase.

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