06 Mar '11, 12pm

California to restrict fishing in several marine areas

LONDON - Crude oil prices rose back above US$100 on Monday on lingering concerns over the impact of political uncertainty in Egypt. Brent North Sea crude for delivery in March gained 75 cents to US$100.58 per barrel in late morning London trade. New York's main futures contract, light sweet crude for March, rose 33 cents to US$89.36 a barrel. Prices soared beyond the key US$100 mark in London last week for the first time in more than two years - and went on to cross US$103 as sentiment was hit by concerns over the impact of Egypt unrest on global energy supplies. But the market ran out of steam on Friday as traders took profits amid weak jobless data in the United States, which is the world's biggest crude consuming nation. "The price of Brent has climbed above the US$100 mark again this morning, after dipping below this mark in Friday's late trading and closing below it d...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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