London Brent crude was standing near the level of 111 dollars per barrel in Wednesday's session, as unrest in Libya have raised concerns about the lack of crude oil in the European market, at a time that the Winter season brings a higher demand for oil .
But on the other hand the increase in crude oil stocks in the U.S. has limited gains. At the close of the Asian session, London Brent oil rose 11 cents to 111 dollars a barrel, while U.S. crude for January fell 41 cents to 93.45 dollars per barrel.
Analysts believe that Brent oil could rise to 114 dollars per barrel in the short term, while U.S. oil resistance level is 99.5 dollars.
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