Oil soars on Libya concerns

TOKYO | Mon Feb 21, 2011 8:55pm EST

TOKYO (Reuters) - Brent crude oil futures rose by more than $2 to as high as $108.18 per barrel from the previous close on continued fears that violence in Libya could lead to wider supply disruptions from the OPEC country.

Brent crude for April delivery stood at $107.52 per barrel at 0110 GMT. On Monday, it hit a 2- year high for any nearby month of $108.70.
On Monday, spreading unrest in Libya shut down 6 percent of oil output in Africa's No.3 producer and prompted a number of energy firms to pull out international staff, sending Brent oil prices above $105 a barrel.