Brent oil price nears $116, traders eye Libyan conflict



Brent oil futures open the week’s trading session near $116 a barrel and oil prices are set to remain bullish as traders and investors eye up the Libyan conflict as international coalition forces conducting air strikes over the country. Latest Brent Oil Price In London, Brent crude oil futures for May 2011 delivery was trading at $115.64 a barrel, 06.00 GMT this morning on the ICE Futures Exchange. Oil Prices to Remain Elevated “Oil prices are likely to remain elevated while the situation in the Middle East and North Africa remains volatile.