Sabtu 17 Aug 2013 13:49 WIB

Oil rises for 6th day in a row

Egyptian army soldiers take their positions on top and next to their armored vehicles while guarding an entrance to Tahrir Square, in Cairo, Friday, Aug. 16, 2013. The price of oil rose for the sixth straight day Friday on continuing violence in Egypt and
Foto: AP/Hassan Ammar
Egyptian army soldiers take their positions on top and next to their armored vehicles while guarding an entrance to Tahrir Square, in Cairo, Friday, Aug. 16, 2013. The price of oil rose for the sixth straight day Friday on continuing violence in Egypt and

REPUBLIKA.CO.ID, NEWYORK - The price of oil rose for the sixth straight day Friday on continuing violence in Egypt and supply disruptions elsewhere in the Middle East and North Africa. US benchmark crude edged up 13 cents to 107.46 USD Friday. It rose 1.4 percent for the week. Brent crude, which is used to price imported crude used by many US refineries, rose 80 cents to 110.40 USD per barrel for October delivery.

Turmoil in the Middle East and North Africa has disrupted some production and exports, especially in Libya and Iraq. It has also raised the specter of spreading violence that could block important supply routes.

Violence in Egypt continued Friday as tens of thousands of Muslim Brotherhood supporters fought with armed civilians, police and troops in Cairo. At least 82 people were killed in the fighting nationwide on Friday. Nearly 700 people have been killed since violence erupted Wednesday.

Egypt is not a major oil exporter, but there is concern that an escalation in fighting could spread to neighboring countries or disrupt the Suez Canal, a major trade route. But rising oil production in the US, Canada and elsewhere has helped keep the market well supplied with oil, and global demand is rising only modestly. That has kept prices from rising even further amid the Middle Eastern violence, analysts say.

In other energy futures trading, natural gas fell 5 cents to 3.37 USD per 1,000 cubic feet (28.32 cubic meters).

 

 

 

sumber : AP
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