Friday 18 February 2011

Oil prices hit $104 a barrel

The price of Brent crude oil hit a 28-month high yesterday, as trading for April delivery opened at $104 a barrel.

Oil prices hit $100 at the beginning of the month, and continued unrest in the Middle East has been blamed for driving the prices up even more.

The increasing level of anti-government protests in the Middle East, and widespread unrest in Bahrain where the military has taken control of the capital, has led to fears about disruption of supply.