Crude Oil Prices Up At London IPE

Oil prices at London International Petroleum Exchange soared on Monday , reacting to a blaze at the biggest oil refinery in Norway, which halted the exports. Norwegian petroleum major Statoil 's Mongstad plan, where there were two people injured. The fire forced the closure of a crude oil unit, halving production capacity to 90,000 barrels per day.
The refinery is the one of the northwest Europe's main petrol exporting plants -- halted its shipments, driving up prices on both sides of the Atlantic.
This news caused new concerns about insufficient transatlantic supply.
London Brent crude was up 46 cents to US$37.51 a barrel, while US light crude was up 64 cents to US$40.60 a barrel.
Prices have risen more than US$4 in the past two weeks, because of situation at Russian oil giant YUKOS, an oil workers' strike in Nigeria and unstable political situation in Iraq.