Business | Oil & Gas

Oil rises to $119 on US-Iran tensions

Oil climbed above $119 a barrel on Friday after a workers strike cut production in Nigeria and tensions rose between the United States and Iran.

  • Agencies
  • Published: 19:48 April 25, 2008
  • Gulf News

London: Oil climbed above $119 a barrel on Friday after a workers strike cut production in Nigeria and tensions rose between the United States and Iran.

US crude futures surged $3.15 to $119.21 a barrel by 1454 GMT, within striking distance of the all-time peak of $119.90 reached on Tuesday.

London Brent crude traded $2.98 higher at $117.32 a barrel, after hitting a new record of $117.51 earlier in the session.

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