Libyan Airstrikes Drive Up Oil Prices – WSJ.com

Energy , Natural Gas Mar 21, 2011 No Comments

Oil Wells“People are beginning to accept that $100-plus barrel oil may be here to stay now,” said Matt Zeman, chief market strategist at Kingswood Financial. “Right now, oil is a relatively safe bet given the geopolitical backdrop.”

Light, sweet crude for April delivery settled $1.26, or 1.3%, higher at $102.33 a barrel on the New York Mercantile Exchange after briefly trading above $103 earlier in the session. Brent crude on the ICE futures exchange for May delivery ended $1.03, or 0.9%, higher at $114.96 a barrel.

via Libyan Airstrikes Drive Up Oil Prices – WSJ.com.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.