UPDATE 2-Oil could hit $200-$300 on Saudi unrest-Yamani

LONDON, April 5 (Reuters) - Oil prices could rocket to $200- $300 a barrel if the world's top crude exporter Saudi Arabia is hit by serious political unrest, former Saudi oil minister Sheikh Zaki Yamani told Reuters on Tuesday.

Yamani said he saw no immediate sign of further trouble following protests last month calling for political reforms but said that underlying discontent remained unresolved...[Full Article]

Oil prices hit all-time high in Britain (and that means bad news for motorists - and possibly for homeowners)

UK Daily Mail

Soaring oil prices wipe out Budget's 1p fuel duty cut
Diesel already costs record £1.40 a litre, with latest rises likely to be passed on at pumps

Oil prices have hit an all-time high in Sterling terms, in a surge which increases the mounting pressure on Bank of England interest rate-setters.

The impact of the weaker pound, which declined 17 per cent in value in the past two years, means the Sterling value of Brent crude oil has risen to a record high of £74.60 per barrel.

But at 121 US dollars a barrel, Brent crude is still below the 147 US dollars a barrel record set in the summer of 2008.

The increase will provide another headache for policy-makers at the Bank of England, who are battling rising inflation, which hit 4.4 per cent in February, and sluggish growth...[Full Article]