(MENAFN- The Peninsula) A sharp decline in crude stockpiles in top consumer the United States and political unrest in Egypt, which could destabilise the Middle East and lead to supply disruptions, sent US oil to a 14-month high yesterday.
US crude rose above $100 a barrel, closing its gap with Brent, after the American Petroleum Institute reported that US crude stocks dropped by 9.4 million barrels last week.
US oil was up $1.86 at $101.46 a barrel by 1315 GMT, having touched $102.18 in earlier trade. Brent rose $1.48 to $105.48.
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