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Politics : Politics for Pros- moderated

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To: FJB who wrote (420613)	4/8/2011 12:10:59 PM
From: FJB	1 Recommendation Read Replies (1) of 793928

Oil holds above $124 after Libyan strikes By Nia Williams \| Reuters – 1 hour 39 minutes ago Analysis: Brent gains ground in oil's benchmark battle Fri, 8 Apr, 2011 7:37 AM EDT LONDON (Reuters) - Oil hit a 32-month high above $124 Friday after attacks on Libyan oil fields raised the prospect of long-term supply cuts, with commodities in general rising on optimism global economic recovery will fuel demand. Ongoing unrest in the Middle East and concerns that postponed elections in Nigeria could spark a wave of militant violence and disrupt supply also contributed to the bullish mood in the market. By 1401 GMT Brent was up $1.84 to $124.51, after earlier climbing more than $2 to just below $125. U.S. crude climbed $1.05 to $111.35, down slightly from an intra-day peak of $111.90, its highest since September 2008...

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