Oil may hit $200 if unrest spreads to Saudi-SocGen

LONDON, March 7 (Reuters) – Brent crude futures LCOc1 could hit $200 a barrel if political unrest spreads into Saudi Arabia, Societe Generale (SOGN.PA: Quote) said on Monday.

North Sea Brent crude futures were trading about 60 cents higher at around $117 a barrel by 1404 GMT. U.S. crude was around $105.70.

Brent crude has been hovering just below the $119 level hit late in February, its highest price since the third quarter of 2008, as the unrest in Libya has cost the country a loss of about 1 million barrels of crude production per day out of its normal 1.6 million bpd output.


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