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Oil prices jump on Nigerian, North Sea supply concerns

NEW YORK -- Oil prices rose sharply Friday as investors refocused their attention on supply concerns - buying on a pipeline attack in Nigeria and a looming refinery strike in Scotland - and ignored the strengthening dollar, according to the Associated Press.

Retail gas prices as expected rose further into record territory, nearing $3.60 a gallon.

Light, sweet crude for June delivery rose $3 to $119.06 a barrel on the New York Mercantile Exchange.

Posted by Peter C. T. Elsworth  at 11:20 AM to Crude oil market | Permalink

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