Upheaval in Libya also have a major impact on the price of crude oil. In New York and London, the price of crude oil has now touched the level of U.S. $ 100 per barrel.
According
to news agency Associated Press (AP), the transaction Wednesday
afternoon or Thursday morning local time GMT, crude oil prices rose more
than four per cent to U.S. $ 100 per barrel. On the London Stock Exchange, crude oil prices soared even five per cent to U.S. $ 111.25 per barrel.
Oil prices in London have exceeded U.S. $ 100 per barrel since 31 January. However,
on the New York, only this time the price touched $ 100 per barrel in
the last two and a half years, or since October 2008.
According
to the observers, the main causes of major jump in crude oil prices are
anti-regime upheaval Muammar Gaddafi in Libya. The
country was believed to have the largest crude oil reserves in Africa,
so that the crisis in the country greatly affect market sentiment.
Libya is seen as the first oil-producing countries affected by the virus of revolution in the Middle East region since January. For
the observer, Libya produces two percent of total world output of crude
oil, thus increasing violence and unrest in the country could disrupt
neighboring fellow producers.
"Investors
middle monitor what was happening in the Middle East and see the
possibility of a domino phenomenon," said Ron Kiddoo, observers of Cozad
Asset Management, was quoted CNNMoney news station.
Skyrocketing crude oil prices also affect the price of gasoline. In the U.S., gasoline prices to around U.S. $ 3.20 per gallon. According to AP, this is the highest gasoline prices since early February this year.
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