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5 years ago
Brent crude ends higher, extends gains post settlement
March 1, 2012 / 9:12 PM / 5 years ago

Brent crude ends higher, extends gains post settlement

NEW YORK, March 1 (Reuters) - Brent crude rose sharply on Thursday, pushing to its highest level since 2008 in post-settlement trading reacting to an unconfirmed Iranian media report of an explosion on an unknown Saudi Arabian oil pipeline.

Brent crude rose $3.54, or 2.89 percent, to settle at $126.20 a barrel, then traded as high as $128.40 in post-settlement trading, the highest intraday price since July 23, 2008, when front-month Brent reached $129.50. (Reporting by Robert Gibbons; Editing by Lisa Shumaker)

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