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25-Apr2011

Crude Climbs On Worries Over Supply Disruptions

Crude prices climbed on Monday as investors showed buying interests in the commodity as worries over supply disruptions loomed large after the lingering civil upheaval in the middle east nations like Libya spread to Syria and Yemen where violence intensified over the weekend. The oil prices also got a boost from depreciation in the American greenback which made the dollar denominated commodity more lucrative for holders of other currencies.

Benchmark crude for June delivery climbed $0.73 to $113 a barrel on the New York Mercantile Exchange. In London, Brent crude for June edged up $0.56 to $124.55 a barrel on the ICE.

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