Supply woes push oil towards $100
11 April 2012
The price of oil jumped ever closer to the $100-a-barrel mark today, hitting 27-month highs.
London Brent crude rose as much as 85 cents to $98.46 at one point before falling back slightly later this afternoon. Commerzbank analyst Carsten Fritsch said $100 oil "seems only a matter of time".
The oil price is being driven higher by growing global demand as well as supply problems in Alaska.
