Brent hits record high as OPEC stirs supply worry

Tue Feb 19, 2008 2:43pm EST
 
[-] Text [+]

NEW YORK (Reuters) - London Brent crude CLc1 leaped almost 4 percent to a record high on Tuesday, lifted by concerns over tight supply as OPEC was expected to keep production tight.

Brent for April delivery LCOJ8 hit an intraday high of $98.70 per barrel, surging $3.79 or 3.99 percent. That surpassed the previous record of $98.50 set on January 3.

(Reporting by Gene Ramos; Editing by John Picinich)

 

Featured Broker sponsored link