SmallGovTimes.comNew York oil price crosses 120 dollars for first time By: News Bites | Published on 05/05/08 Oil prices crossed 120 dollars a barrel here Monday following fresh unrest in Nigeria, Africa's largest oil producer. New York's main oil futures contract, light sweet crude for June delivery, briefly hit 120.20 dollars, before slipping back at 1520 GMT to 120 dollars, a gain of 3.68 dollars from the closing price on Friday. The price surge came on supply jitters from Nigeria and geopolitical tension in Iran, analysts said. Original URL: http://www.smallgovtimes.com/story/08may05.oil.120.barrel/index.html |