31 January 2011 16:48 [Source: ICIS news]
LONDON (ICIS)--Brent crude on the ICE futures exchange broke above $100/bbl on Monday for the first time since October 2008 as a result of concerns that the political unrest in Egypt could lead to oil supply disruptions.
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By 16:25 GMT, March Brent crude had hit a high of $100.05/bbl, a gain of $0.63/bbl from the previous close of $99.42/bbl, before easing back to around $99.75/bbl.
At the same time, March NYMEX light, sweet crude futures were trading around $90.10/bbl, having hit a high of $90.87 over the weekend, a gain of $1.54 from the previous close.
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