Violence in Egypt as a potential supply disruption fears, boosting oil prices rose on Friday continued to spiral.
Benchmark crude for September delivery futures rose 12 cents a barrel to $ 107.45 in midday Bangkok time the New York Mercantile Exchange electronic trading. On Thursday, the contract rose 48 cents to settle at $ 107.33 a barrel.
, Benchmark prices for many U.S. refineries import crude oil, Brent crude rose 5 cents to $ 109.77 a barrel.
In early July resignation of the Egyptian President Mohammed Mursi has boosted crude oil prices, reflecting the country's control of the Suez Canal from the risk of supply disruptions. Wednesday's outbreak of violence, the police and the Mursi clashes between supporters of more than 600 people dead.
Egypt is not a major oil exporter, but traders worried that violence could spread to more important oil-exporting countries or disruption of a major oil transportation route through Egypt.
Oil Outlook and opinions Carl Larry said: "In an e-mail commented that the problem with the Middle East, time is terrible," and added, "The Suez Canal is the main thoroughfare of oil, but it is a life many Eastern European countries in the East, their trade, and maintain their economic collapse. "
In early July of oil through $ 100 a barrel for the first time since September Mursi deported. It reached a high for the year $ 108.15, July 19, the Libyan production decline is due to strike oil facilities.
In other Nymex energy futures trading:
- Heating oil fell slightly to $ 3.0793 a gallon.
- Wholesale gasoline prices rose 0.4 cents to $ 2.8584 a gallon.
- Natural gas rose 0.6 cents to $ 3.425 per 1,000 cubic feet.
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