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August 30, 2012

Brent rises amid supply concerns and Norway oil strike

Brent crude rose by 11 cents to $112.65 a barrel today, aided by supply concerns and a possible strike by Norway's oil workers and maintenance work in North Sea.

By admin-demo

Brent crude rose by 11 cents to $112.65 a barrel today, aided by supply concerns and a possible strike by Norway’s oil workers and maintenance work in North Sea.

US crude slipped 87 cents to settle at $94.62 a barrel, as oil companies operating in the Gulf Coast region assessed the impact of Hurricane Isaac.

The UN International Atomic Energy Agency said Iran is preparing for a major expansion of uranium enrichment at an underground facility, news which also bolstered Brent prices, reports Reuters.

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