Oil prices climb above $105

Oil prices continued their upward climb Wednesday as investors eyed ongoing civil tensions in Libya and Yemen.

Investors are concerned that sweeping unrest in the Middle East and Africa will limit oil production, and supply concerns tend to send oil prices higher.

A report Wednesday morning from the Energy Information Administration said inventories of crude oil rose 2.1 million barrels last week. But gasoline stockpiles fell by 5.3 million barrels, much more than expected.

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- Posted: 2011-03-23 10:34:11

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