* Oil rises above $ 110 a barrel by Iran, China data
Erbil, January 3 (Rn) – Crude oil rose above $ 110 a barrel on Tuesday as raised tensions between Iran and the United States concerns about potential disruptions to oil supplies from the Middle East and in the time that the Chinese data showed the growth of economic activity.
The oil was a better asset performance in 2011 where he achieved Brent yearly gains of 13 percent to an average price of about $ 111 a barrel due to supply disruptions from the Middle East and North Africa.
According to figures reported by “Reuters” the futures contracts for Brent crude rose 2.97 dollars to 110.35 dollars a barrel Tuesday on the first day of trading in 2012.
The U.S. light crude rose in futures two dollars to 101.53 dollars a barrel, after hitting its highest level during the session at 101.68 dollars.
OPEC said on Tuesday that the price of its basket of crudes standard, which includes the Iraqi Basrah Light rose to 106.84 dollars a barrel on Friday from 106.75 dollars on Thursday.
Iran and raised a military exercise in the Gulf and moving the U.S. military ships in the region, fears of a confrontation between Tehran and Washington would stop oil exports from the region.
The * Oil rises above $ 110 a barrel by Iran, China data by Dinar Daddy's Tidbits, unless otherwise expressly stated, is licensed under a Creative Commons Attribution-ShareAlike 3.0 Unported License.
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