22-Feb-2011 10:29 AM

Oil rises to highest level since Sep-2008

Oil rose to the highest since Sep-2008 to above USD108 in New York as tension in the Middle East escalated (Bloomberg, 22-Feb-2011). Libyan security forces attacked anti-government protesters as demonstrations spread across the Middle East and North Africa, a region that accounts for 36% of global crude output.  

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