Crude oil prices increases in international markets

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Crude oil prices increases in international markets

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Due to the protests against the governments in Libya and other countries Middle Eastern countries, the crude oil prices in the international markets have increased yet again.

21 February,2011 12:07 pm

In the New York stock market, the prices of oil increased by US$ 1 and 15 cents. The price of crude oil now stands at US$87 and 35 cents per barrel. In Europe the prices of crude oil have also increased by US$ 1 and 26 cents to go up to US$ 103 and 78 cents per barrel.After the violent protests in Libya, there has been an increase of 2.2% in the prices of crude oil. The production of oil from Libya in January was 1,600,000 barrels a day.