March 9, 2011
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02.03.2011

World Oil Prices Rise on Demonstrations in Iran

The price of oil on world commodity exchanges was growing Wednesday morning as reports arrived on growing demonstrations in Iran. Experts believe instability in the region could hinder deliveries of crude to world markets.

The price of an April futures contract for WTI light sweet crude in electronic trading on Nymex was up $1.01 cents to $100.64 a barrel by 7:00 Moscow time. The price of an April futures contract for North Sea Brent blend was up 8 cents to $115.50 in London.

Oil prices jumped the day before with April WTI contracts climbing $2.66 to $99.63 a barrel and April Brent contracts jumping $3.62 cents to $115.42.

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