02-07-2013 | (Voice of Iraq) -  Add Comment - SINGAPORE (Reuters) Brent crude rose above $ 103 a barrel on Tuesday, extending gains for a second session due to concerns of supply disruptions from the Middle East and Africa. The decline in oil production in Libya by a third protesters after closing several oil fields, raising concerns about oil exports from the Middle East at the time which raises the anti-government protests in Egypt's concerns about the stability of the region in general. By 0530 GMT, Brent futures rose Aug. 13 cents to $ 103.13 a barrel, after increased 0.82 percent the previous day. And advanced U.S. crude futures for August delivery three cents to $ 98.02 a barrel after rising more than one percent at the settlement on Monday. Said Tony Nunan, risk manager at Mitsubishi Corp. "Brent in a narrow range since the period with continued strengthen markets due to geopolitical risks, but there are an abundance of low-sulfur crude supplies from the United States." (Preparation Ahmed Inspirational Arab Bulletin) |
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