Brent oil jumps more than $1 to near $114 on Libya (Reuters)

Sunday, February 27, 2011 7:01 PM By dwi

TOKYO (Reuters) – author vulgar prices long gains by more than $1 to nearby $114 a containerful in electronic change on Monday, as worries over the worsening status in Libya fed broad unrest in the Middle East and stoked fears of a flutter of lubricator flows in the region.

U.S. vulgar for Apr conveying also chromatic more than $1 above $99 containerful in Globex electronic trading.

Concern most cater flutter from OPEC-member Libya, where sicken against its long-serving president has significantly revilement down on exports, on weekday drove Brent to a 2- year-high of nearly $120 a containerful and U.S. vulgar to more than $103.

Brent vulgar for Apr conveying chromatic $1.51 to $113.65 a containerful by 2336 GMT, after rising to as broad as $113.82 earlier.

U.S. vulgar for Apr conveying gained $1.47 to $99.35 a barrel.

Armed rebels who hit seized curb of Zawiyah, near to the capital Tripoli, were preparing for a counter-attack as individual cheater Muammar Gaddafi vowed to stick on to his 41-year-old rule.

OPEC and non-OPEC lubricator producers hit plenty of acquirable oil, peninsula Energy Minister Mohammed Saleh al-Sada said on Sunday, adding there was no justification for broad levels of nervousness in the market.

In Tunisia, Prime Minister Mohamed Ghannouchi hopeless on Sunday after ferocious protests over his ties to the North individual state's toppled former leader, triggering street celebrations in central Tunis.

News that Arabian peninsula had increased its production to more than 9 meg barrels per day (bpd) mass assurances from Riyadh that it would fill any cater gap helped limit the gains on Friday.

(Reporting by Osamu Tsukimori; Editing by Ed Lane)


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