World Oil Prices Rise on Middle East Tensions

April 25, 2011
The price of oil on world commodity exchanges was growing Monday morning as reported tension in the Middle East threatens to disrupt crude supplies.

The price of a May futures contract for WTI light sweet crude in electronic trading on Nymex was up 78 cents to $113.07 a barrel by 7:05 Moscow time. The price of a May futures contract for North Sea Brent blend was up 55 cents to $124.54 in London.

The day before, May WTI contracts fell off $1.42 to $90.77 a barrel, while May Brent contracts were up 73 cents to $101.74.

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