Brent oil price holds at $103, crude oil supply in focus

Brent crude oil futures end the week’s trading session firm at $103 a barrel as crude oil supplies from Middle Eastern countries continues

to worry many, as uncertainty holds Brent oil at two year trading highs.

Brent Oil Futures – Closing Price

Brent crude oil futures for April 2011 delivery ended the week’s trading session at $103.06 a barrel on the ICE Futures Exchange, which is $1.65 higher than Brent’s close last week at $101.41.

Suez Canal Route Still a Concern

Brent oil futures have rallied on recent protests in the Middle East, in part due to worries about oil transport to Europe through Egypt’s Suez Canal.

Those gains, plus a supply glut at the US hub of Cushing, have reversed the typical relationship between ICE Brent and NYMEX WTI oil futures to ... Read more »