Oil prices jump as UN approves military action in Libya

Investor anxiety about oil supply interruptions caused by instability in the Middle East, where the United Nations approved military action, pushed oil prices up by nearly $2 on Friday.

April futures on WTI blend in New York grew by $1.77 to $103.19 per barrel as of 08:53 Moscow time, while April futures on Brent blend increased by 1.27% to $116.36 per barrel.

The UN Security Council on Thursday authorized military strikes to curb Libyan leader Muammar Gaddafi after he threatened to storm the rebel bastion of Benghazi.

MOSCOW, March 18 (RIA Novosti)

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