SINGAPORE – Oil prices rose to near $105 a barrel Thursday in Asia after control of a key oil port swung back to forces loyal to Libyan leader Moammar Gadhafi, dimming hopes of a quick rebel victory and a restart of crude exports. Benchmark crude for May delivery was up 37 cents to $104.64 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 52 cents to settle at $104.27 on Wednesday
Thursday, December 29, 2011
Oil near $105 as Gadhafi takes back Libya oil port
SINGAPORE – Oil prices rose to near $105 a barrel Thursday in Asia after control of a key oil port swung back to forces loyal to Libyan leader Moammar Gadhafi, dimming hopes of a quick rebel victory and a restart of crude exports. Benchmark crude for May delivery was up 37 cents to $104.64 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract fell 52 cents to settle at $104.27 on Wednesday
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