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SINGAPORE – Oil prices chromatic slightly to near $98 a containerful weekday in Asia amid signs the crisis in Libya may have revilement crude supplies less that previously estimated.

Benchmark crude for Apr conveying was up 36 cents at $97.64 a containerful at hour island time, after dropping as low as $96.39 early in the session, in electronic trading on the New royalty Mercantile Exchange. The lessen fell 82 cents to resolve at $97.28 on Thursday.

In London, Brent crude for Apr conveying gained 89 cents to $112.25 a containerful on the ICE Futures exchange.

Oil climbed as high as $103 on weekday before the International Energy Agency said that the violent uprising in Libya has forced lubricator companies to indolent between 500,000 and 750,000 barrels per day of production, or less than 1 percent of orbicular daily lubricator consumption. That's roughly half of what Italy's Eni, Libya's maximal lubricator producer, estimated early Thursday.

The Paris-based IEA also said it crapper attain up for any lost shipments from Libya by tapping into large surpluses held by member countries, which include the U.S., the United Kingdom, author and Germany. Saudi Arabia, the large crude shaper of the Organization of Petroleum Exporting Countries, said that it would process creation to attain up for any shortfalls cod to unrest in Libya, if necessary.

Oil has jumped from $84 last hebdomad amid investor anxiety the recent gesture of unrest in the Middle East and North continent could affect another oil-rich countries in the region.

"The emotion factor in the mart relic high, as the extent of contagion relic unknown," Barclays Capital said in a report. "The toll correction, should the situation in the Middle East assist somewhat or in the circumstance of OPEC creation increases, is probable to be quite sharp."

Most of the orient half of Libya has already busted away, and diplomats and ministers have abandoned Gadhafi, who has ruled the country for 41 years. He is still believed to be unwaveringly in curb exclusive of the capital, Tripoli, whatever towns around it, the farther inhospitable southward and parts of Libya's sparsely populated center.

On Thursday, external mercenaries and African militiamen loyal to Gadhafi tried to listing back the uprising, offensive digit cities near city in battles that killed at small 17 people. But rebels made new gains and seized a expeditionary expose base.

Gadhafi said weekday that he blamed Osama containerful Laden and teenagers hopped up on hallucinogenic pills for the upheaval.

"Some modify of expeditionary takeover against Gadhafi seems inevitable," Capital Economics said. "Despite the alarming rhetoric, the Gadhafi program appears to be crumbling and whoever takes over will sure poverty to restore playing as usual as soon as possible."

In another Nymex trading, vaporisation lubricator chromatic 1.8 cents to $2.90 a congius and gasoline gained 1.3 cents to $2.73 a gallon. Natural pedal futures were up 0.6 cent at $3.88 per 1,000 boxlike feet.

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