US crude tops $120/bbl on dollar, Nigeria strife

05 May 2008 16:44  [Source: ICIS news]

HOUSTON (ICIS news)--NYMEX light sweet crude futures set on Monday a record high above $120.00/bbl, in response to a weaker US dollar and weekend attacks by militants on Nigerian oil installations.

At 16:20 GMT, NYMEX crude was up $3.53 at $119.85/bbl after pulling back from a session high of $120.21/bbl.

ICE Brent also set an all-time high of $118.50/bbl before easing back to $118.09/bbl at 16:20 GMT, up by $3.53.

By: Ignacio Sotolongo
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