Brent crude price exceeds 115 dollars

Attacks raise concern that the unrest will intensify also in North Africa and Middle East territories producing more than a third of the world’s oil.

On Monday, March 21, morning Brent crude for May rose by 1.67 US dollars to 115.60 dollars per barrel. While the US crude price edged up 1.86 US dollars, amounting to 102.92 US dollars a barrel.

«With involvement from the West, the uncertainty that has surrounded the region and the fear of upheaval and unrest spreading to countries like Saudi Arabia, where we could lose a lot more crude that what we did Libya, is definitely going to be the main price driver,» considers CMC Markets analyst Matthew Lewis