Brent oil trading near $115, Libya tensions prop up prices

Brent oil prices open today’s trading session slightly lower, near $115 as tensions in Libya continue to prop up both Brent and WTI oil prices as doubts emerge over the resumption of Libyan crude oil exports. Latest Brent Oil Price In London, Brent crude oil futures for May 2011 delivery was trading at $114.63 a barrel, 04.30 GMT this morning on the ICE Futures Exchange. Brent oil closed off yesterday’s trading session up 0.4 percent at $115.20 a barrel

Brent oil futures close the week’s trading session at $116

Brent oil futures close off the week’s trading session back near $116 a barrel as crude oil supply concerns from Libya has traders and investors uncertain about short term oil price direction. Brent Oil Futures – Closing Price Brent crude oil futures for May 2011 delivery ended the week’s trading session at $115.95 a barrel on the ICE Futures Exchange yesterday evening, $1.44 higher than last week’s closing price of $114.51 a barrel. JP Morgan Forecasts Higher Brent Price JP Morgan analysts warned in a research note yesterday that higher oil supplies from OPEC will be needed to meet summer demand and sees the strong likelihood of a price spike of up to $130 a barrel for Brent crude oil