الرئيسية
* Tensions between Iran and West boost oil
* Upbeat U.S. economy data lifts demand outlook
* Brent hits fresh record in euros on Thursday
(Updates prices)
SINGAPORE, Feb 24 (Reuters) - Brent crude rose above
$124 on Friday, on track for a fifth straight weekly gain, as
worries over Iranian supply and upbeat U.S. economic data offset
concerns that high oil prices could snuff out demand growth.
Brent crude rose 47 cents to $124.09 by 0726 GMT,
after touching a high of $124.28 earlier in the session. Brent,
which has gained more than 11 percent so far this month, settled
on Thursday at $123.62 a barrel -- the highest front-month
settlement since May 2 last year.
U.S. crude futures rose for a seventh day, its
longest winning streak since a 10-day gain in December 2009. The
April contract was up 73 cents at $108.56 a barrel.
"There's still a risk premium to be built in oil prices
because of Iran," said Jonathan Barratt, chief executive of
BarrattBulletin, a Sydney-based commodity research firm.
Tensions between the West and Iran over Tehran's nuclear
programme rose after a U.N. nuclear watchdog mission ended in
failure this week. Faced with western sanctions, European and
Asian buyers of Iranian crude have or planned to cut imports
from Tehran.
* Upbeat U.S. economy data lifts demand outlook
* Brent hits fresh record in euros on Thursday
(Updates prices)
SINGAPORE, Feb 24 (Reuters) - Brent crude rose above
$124 on Friday, on track for a fifth straight weekly gain, as
worries over Iranian supply and upbeat U.S. economic data offset
concerns that high oil prices could snuff out demand growth.
Brent crude rose 47 cents to $124.09 by 0726 GMT,
after touching a high of $124.28 earlier in the session. Brent,
which has gained more than 11 percent so far this month, settled
on Thursday at $123.62 a barrel -- the highest front-month
settlement since May 2 last year.
U.S. crude futures rose for a seventh day, its
longest winning streak since a 10-day gain in December 2009. The
April contract was up 73 cents at $108.56 a barrel.
"There's still a risk premium to be built in oil prices
because of Iran," said Jonathan Barratt, chief executive of
BarrattBulletin, a Sydney-based commodity research firm.
Tensions between the West and Iran over Tehran's nuclear
programme rose after a U.N. nuclear watchdog mission ended in
failure this week. Faced with western sanctions, European and
Asian buyers of Iranian crude have or planned to cut imports
from Tehran.