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Brent futures in euros at all time high of 93.60 euros/bbl

Reuters – Thu, Feb 23, 2012 7:48 PM SGT

LONDON, Feb 23 (Reuters) - Brent crude futures in euro terms rose to an all-time high of 93.60 euros per barrel on Thursday, on fears of supply disruptions as tensions between Iran and the West escalate.

Stronger crude prices in Europe could further dent demand, as widespread austerity measures and tighter credit conditions crimp consumer spending power.

Brent crude prices also rose on a sterling basis, climbing to historical records of 79.19 pounds per barrel.

By 1144 GMT, Brent crude futures traded up $1.11 at $124.01 per barrel, having risen to highs not seen since May 2011 earlier in the session of $124.48 per barrel. (Reporting by Zaida Espana and Dmitry Zhdannikov; Editing by Alison Birrane)

 

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