The decision by the United Nations last night to impose a no-fly zone over Libya to protect the people's revolution army and citizens from the threatened brutal 'no mercy' attacks of a regenerated Colonel Gaddafi's loyalists, has added to the upward pressure on oil prices.

That, together with the worsening Bahrain crisis and the increased concern about the safety of nuclear power in the aftermath of the Japanese quake, saw Brent crude rise to around USD116 per barrel in morning trading.

Meanwhile, in Rotterdam, IFO 380 bunker fuel continued to rise, being on offer at USD609 per tonne today - representing another 10% rise over the last month.