The price of Brent oil in London reached $120 per barrel on Monday, its highest since August 2008, RIA Novosti cites France Press.
It reached $120.13 according to contract supplies in May, rising by 1.2% within bids. Prices rose at the InterContinental Exchange Futures over the situation in Libya.
Al-Jazeera reported that Libyan leader Muammar Gaddafi used artillery to shoot oil fields south of Adzhdabia.
Oil prices are also rising over improvements in the US labor market and optimism surrounding the prospects of the world’s largest economy.
