Attacks on Libyan oil fields means the commodity has breached the $124-a-barrel mark for the first time since August 2008 after concerns were raised about supply. Brent crude surged by $1.05 to $124.65 a barrel on Friday (April 8). The price rises bring increased inflationary pressures around the world. There are fears that unrest in the Middle East could spread at a time when demand is increasing on the back of strengthening economies in countries such as China and the US.
