Oil prices raced ahead today after a huge gas refinery blast in Algeria and a threatened strike by Nigerian workers, which added to concerns over cold US weather and low crude stockpiles.
The price of benchmark Brent North Sea crude oil gained 42 cents to $30.99, while the price of crude in New York jumped 73 cents to $35.80.
At least 23 people were killed and 74 injured when a huge explosion ripped through a liquefied natural gas plant near the eastern Algerian port of Skikda late on Monday.
Traders were also worried about the threat of a general strike by workers in oil-rich Nigeria, although there were signs that a mass walk-out might be averted.
OPEC ministers meet in Algeria on February 10, with analysts expecting no change to production ceilings despite oil prices remaining above the cartel's target price band.
