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LONDON, Feb 1: Oil prices turned higher on Friday after an explosion at a Kuwaiti plant threatening output disruptions, while possible strike action at US refineries further upset the market.
A barrel of Brent North Sea crude rose as high as $19.39 before slipping back to 19.23 by midmorning, up from 19.18 overnight. In New York, the light sweet crude March contract rose 40 cents overnight to $19.48 a barrel.
Price rose because of possible strikes in the States in refineries and then the blast of the Kuwaiti production platform, said Philip Oxley.—AFP
