Updated on
Summary Oil prices in international markets surged by 14 percent during the week ended on 26 of February.
According to experts, the fresh wave of oil price hike was due to unrest in Libya. They said that prices can be surged in next week if tension remains in the country. On the last day of the week, the oil prices in UK and New York remained at $ 112 and 97.88 dollar per barrel respectively. During the week, the prices reached 103 dollar per barrel in New York. But the announcement by OPEC countries to increase the supply caused a meager decrease in oil prices.
