Oil Prices Rise as Disrupted Supply in Libya may be Permanent

Oil prices rebounded in European session as Qaddadi's troops recaptured a key oil port, dampening hopes that the unrest will end soon. The front-month contract for WTI crude oil price climbed above 105 while equivalent Brent crude contract jumped a 2-week high of 116.78. The DOE/EIA said in a report that the extent and duration of Libya's supply disruption will depend on several factors:

Go here to see the original:
Oil Prices Rise as Disrupted Supply in Libya may be Permanent