An Iraqi construction worker digs a hole for the foundation of a wall surrounding a water treatment facility in Khatun, Iraq, Jan. 24, 2008. U.S. Air Force photo by Staff Sgt. Jason Robertson.
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New York oil price crosses 120 dollars for first time
By: News Bites | Submitted on: 05/05/08(SGT NEWS BITE) - 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.
Link to full article (opens in new window)
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.
Link to full article (opens in new window)
News Bites are short one or two paragraph excerpts of external news articles with links to the original source.
