Brent crude rises over $124 on unrest in Syria, Yemen(Reuters) - Brent crude futures rose above $124 a barrel on Monday after violence in Syria and Yemen escalated over the weekend, boosting fears that unrest may disrupt more oil supplies in the Middle East and North Africa.
Technical analysis showed that Brent's next target to the upside is $127.02 a barrel after it cleared resistance at $124.02, Reuters market analyst Wang Tao said.
Another factor supporting oil prices is the weak dollar. The dollar was vulnerable on Monday, hitting a fresh 29-year low against the Australian dollar under the weight of its low interest rates.
"It is one of the factors supporting the turnaround in oil," Shum said. "Oil is a good hedge."
The weak dollar helped boost spot gold to a record of $1,513.70 an ounce, extending the record-breaking rally to the seventh consecutive session. U.S. gold futures also hit a record high, at $1,514.50 an ounce.
(Additional reporting by Florence Tan; Editing by Clarence Fernandez and Sugita Katyal) reuters
tout ça pour dire que tracter la caravane jusqu'à bandol ça va pas être donné !
mais, bon, il reste saint trop' !