Watch Out, Oil Prices Are Climbing Again And We're Now At A 30 Month High

Oil prices continue to rise this morning, supported by Friday’s strong jobs number. It now stands at a 30-month high, and is trading close to $109.

With Libya’s production capacity still very much in doubt due to the continued struggle of key oil towns in the country, there will be little on the supply side to suggest oil prices should fall. If Qaddafi’s overtures on trying to end the conflict become more realistic, this could change, however.

 

Chart

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.