TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Crude oil prices extend rise on South Sudan worry
Oil prices rose further above $99 on Friday as violence in South Sudan stoked concerns about the African nation's oil production
Change Size
Oil prices rose further above $99 on Friday as violence in South Sudan stoked concerns about the African nation's oil production.
Benchmark U.S. oil for February delivery gained 27 cents to $99.82 in electronic trading on the New York Mercantile Exchange.
Oil prices gained nearly 3 percent last week as optimism about the U.S. economic recovery lifted expectations for the country's energy demand.
Worries over instability in South Sudan have led some analysts to predict the contract may top $100 a barrel for the first time since mid-October. On Tuesday, the U.N. Security Council voted to increase U.N. peacekeeping forces in South Sudan by nearly 80 percent.
Brent crude, a benchmark for international oils, was off 20 cents at $111.78 per barrel in London.
In other energy futures trading on Nymex:
' Wholesale gasoline shed 1 cent to $2.81 a gallon.
' Heating oil was down 1 cent at $3.08 per gallon.
' Natural gas added 1 cent to $4.42 per 1,000 cubic feet.
