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Crude futures were slightly higher today, a day after renewed Middle East unrest sent prices to fresh multi-year highs.
Light, sweet crude for May delivery recently traded 23 cents, or 0.2 percent, higher at $105.98 a barrel on the New York Mercantile Exchange, after trading as high as $106.69 earlier in the session. Brent crude on the ICE futures exchange traded 70 cents lower at $114.85 a barrel.
Oil prices settled at the highest level in two and a half years Wednesday, amid continued worries about the growing conflict in Libya and spreading turmoil in Yemen and Syria.
But traders are cautious about betting on a continued rise, with concerns brewing of a demand drop in Japan and new sovereign debt issues in Portugal.
