Oil climbing on Libya fears
Thursday, 24 February 2011
SINGAPORE, Feb 23 (BBC): Oil prices have continued to climb after Libya's Col Gaddafi refused to stand down and investors feared unrest could worsen across the region.
US light, sweet crude was up $0.61 at $96.03 - its highest for two years. It has now risen almost $10 since the start of the week.
Brent crude in London was $1.58 higher to $107.36 in early trading.
Total has become the third major European oil company to suspend production in Libya.
Repsol and Eni have already suspended production amid continued anti-government unrest
Stock markets in Asia were little changed after dropping on Tuesday. Investors said they are gauging the impact of Libyan unrest on the global economy and corporate profit growth.
US light, sweet crude was up $0.61 at $96.03 - its highest for two years. It has now risen almost $10 since the start of the week.
Brent crude in London was $1.58 higher to $107.36 in early trading.
Total has become the third major European oil company to suspend production in Libya.
Repsol and Eni have already suspended production amid continued anti-government unrest
Stock markets in Asia were little changed after dropping on Tuesday. Investors said they are gauging the impact of Libyan unrest on the global economy and corporate profit growth.