Friday, February 1, 2013

UPDATE 5-Oil rises above $116 on renewed Mideast tension


LONDON, Feb 1 (Reuters) - Brent crude oil rose above $116 on Friday to reach a four-month high after a suicide bombing attack on the U.S. embassy in Ankara increased the focus on tension across the region.
U.S. crude prices slipped though after a modest improvement in the U.S. jobs market was slightly below expectations.
Brent headed for a third consecutive week of gains and was on track to post its biggest weekly gain in two months. U.S. crude was set to rise for an eighth straight week, matching a similar winning streak in July-August 2004.
Brent futures for March rose $1.18 to a high of $116.73 a barrel, its highest since mid-September, before easing back to around $116.25 by 1500 GMT.

No comments:

Post a Comment

ShareThis