Oil rises to above $108 as US jobs market improves (AP)

[AP] - Oil prices jumped to fresh 30-month highs above $108 a barrel Monday as the conflict in Libya extended market concerns about supply risks and signs of a recovering U.S. jobs market bolstered optimism that global crude demand will strengthen.

SINGAPORE (Reuters) - Brent crude slipped below

Oil prices jumped to near $86 a barrel Monday in Asia, extending gains from last week as investors bet an improving U.S. job market will herald growing crude demand.

Oil prices jumped to near $86 a barrel Monday in Asia, extending gains from last week as investors bet an improving U.S. job market will herald growing crude demand.

Oil prices jumped above $83 a barrel Monday in Asia amid signs of strong Chinese demand for crude and rebel attacks on Nigerian supplies.

By Frank Holmes CEO and Chief Investment Officer U.S. Global Investors In 2011, oil was one of the top performing commodities among those we track, with Brent rising more than 13 percent. Geopolitical risk and unexpected non-OPEC supply losses caused oil to rise significantly in early 2011. By October, we saw the black gold sink to a low of $96 per barrel before rising to its current level of nearly $108 a barrel.

Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.The article below is a guest contribution by Frank Holmes, CEO and Chief Investment Officer of U.S. Global Investors.