Brent oil price climbs back above $100 - Economic Times

Prices rocketed above the key $100 mark in London last week for the first time in more than two years -- and went on to cross $103 as sentiment was hit by concerns over the impact of Egypt unrest on global energy supplies.

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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 New York crude lags behind Brent owing to large supplies of oil remaining at the US port of Cushing, Oklahoma, according to analysts.

Brent oil price climbs back above $100 - Economic Times