US Crude Climbs to $107 On Middle East Troubles and Petrol Stocks Fall

13 April 2011 (Last Updated April 13th, 2011 18:30)

US crude rose to $107 a barrel due to the unrest in the Middle East and a decrease in US petrol stocks. Prices increased by 5¢ to stand at $107.16 a barrel, while Brent crude saw a 38¢ fall to $122.50 a barrel, reports Reuters. The Brent crude decline was attributed

US crude rose to $107 a barrel due to the unrest in the Middle East and a decrease in US petrol stocks.

Prices increased by 5¢ to stand at $107.16 a barrel, while Brent crude saw a 38¢ fall to $122.50 a barrel, reports Reuters.

The Brent crude decline was attributed to growing concerns about the impact of high prices on demand.

The International Energy Agency and the International Monetary Fund both warned that the high prices of crude may decelerate demand.