Oil prices jumped up to over $110 per barrel, which is the highest price in the last 2 1/2 years. The reason for the surge was the latest 7.1-magnitude earthquake in Japan.
Since September 2008, the prices haven´t reached the current price of $110.44/barrel.
The quake was followed by a tsunami warning, which was lifted two hours later without any damage. The Fukushima-Daiichi plant wasn´t affected by yesterday´s earthquake.