Because of fears tensions in the Middle East to spread, NYMEX oil futures 1 closing and highest level for more than two years, 99.63 dollars a barrel, up 2.7%, gasoline and heating oil futures also rising dramatically.

On March 1, integrated media reports, the New York mercantile exchange (NYMEX) at oil futures ended 1 skyrocketing, fears the Middle East riots positive main oil-producing countries to spread.

NYMEX April crude oil futures contract settlement prices 2.66 dollars, 99.63 dollars a barrel, up 2.7%. ICE brent futures settlement price $3.62 a barrel in 115.42 dollars.

The oil market focus Libya reports of violence intensified. Riots could spread to wealthier oil-producing countries such as Iran and Saudi Arabia, this boost the U.S. crude oil futures approached $100 a barrel.

Meanwhile, Saudi stock markets plunged by 6.8%, amid concerns about the neighbouring bahrain riots situation worse.

Saudi oil production increase 50 million barrels, reach daily 900 million barrels, to make up for the Libyan yield from falling supply shortages. Kuwait also hinted that, if Libya yield drops further, may use daily output is about 20 million barrels of spare capacity.

Market currently available in good conditions, particularly in America. Expected 2 published weekly inventory data will display the crude oil inventories rose.

American Petroleum Institute (as Petroleum Institute) is scheduled for eastern time 2 published at 4.30pm inventory data.

However, if the Middle East oil production further interruption, especially large oil exporters production disruptions, it may be difficult to Saudi Arabia by ourselves force in the long term deal with this situation. If so, oil importer or need tapping strategic reserves to meet demand.

April RBOB gasoline futures contract settlement price rises, 9.07 cents a gallon, up 3.1 2.9834 dollars. April heating oil futures contract settlement price rises 8.46 cents to September 2008 the highest since the clearing price per gallon 2.9834 dollars.