{"id":354879,"date":"2011-03-31T21:37:44","date_gmt":"2011-03-31T21:37:44","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/03\/31\/oil-price-jumps-on-supply-fears\/"},"modified":"2011-03-31T21:37:44","modified_gmt":"2011-03-31T21:37:44","slug":"oil-price-jumps-on-supply-fears","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/03\/31\/oil-price-jumps-on-supply-fears\/","title":{"rendered":"Oil price jumps on supply fears"},"content":{"rendered":"

\n \t\t
\n 31 March 2011<\/span>
\nLast updated at <\/span>17:37 ET<\/span>
\n<\/span><\/p>\n

Oil prices jumped to their highest close in two-and-a-half years as Libya’s conflict and Middle East unrest sparked fresh worries about supplies.<\/p>\n

Brent crude for delivery in May rose $2.23 to $117.36 a barrel, its highest close since August 2008 and up 23.9% so far this year.<\/p>\n

US crude rose $2.45 to $106.72, its highest close since September 2008, and jumping 16.8% for the quarter.<\/p>\n

Analysts said oil trading recently was the most volatile for two years.<\/p>\n

Fighting near Libya’s oil ports heightened concerns about the country’s ability to re-start production any time soon.<\/p>\n

Energy consultants Cameron Hanover said traders are beginning to view the Libya uprising as a stand-off with little sign of resolution.<\/p>\n

“Optimism that Libyan oil might return to the market, seen earlier this week, was dashed,” the firm said in a statement.<\/p>\n

But the oil price also rose amid optimism about the strength of the US economy, which could mean crude imports rising.<\/p>\n

Brent crude’s recovery comes after it fell below $108 in the aftermath of Japan’s earthquake and tsunami on 11 March.<\/p>\n<\/p><\/div>\n<\/p>\n

Go here to see the original:
\nOil price jumps on supply fears<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

31 March 2011 Last updated at 17:37 ET Oil prices jumped to their highest close in two-and-a-half years as Libya’s conflict and Middle East unrest sparked fresh worries about supplies. Brent crude for delivery in May rose $2.23 to $117.36 a barrel, its highest close since August 2008 and up 23.9% so far this year. US crude rose $2.45 to $106.72, its highest close since September 2008, and jumping 16.8% for the quarter. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-354879","post","type-post","status-publish","format-standard"],"yoast_head":"\nOil price jumps on supply fears - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/03\/31\/oil-price-jumps-on-supply-fears\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Oil price jumps on supply fears - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"31 March 2011 Last updated at 17:37 ET Oil prices jumped to their highest close in two-and-a-half years as Libya's conflict and Middle East unrest sparked fresh worries about supplies. 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