Friday, April 25, 2008

Oil jumps past $119 on U.S.-Iran tensions

LONDON, April 25 (Reuters) - Oil jumped more than $3 to over $119 a barrel on Friday on Nigerian and North Sea supply disruptions and rising tensions between the United States and Iran.
U.S. crude futures surged $3.44 to $119.50 a barrel by 1248 p.m. EDT (1648 GMT), near the all-time peak of $119.90 reached on Tuesday.
London Brent crude traded $3.12 higher at $117.46 a barrel, after hitting a new record of $117.56 earlier.
A cargo ship hired by the U.S. military fired warning shots at boats suspected to be Iranian, the U.S. Navy said on Friday, underscoring tension in the Gulf as the Pentagon sharpened its warnings to Tehran.
Iran denied there had been any confrontation between its forces and a U.S. ship in the Gulf, Iranian media reported. (Reuters Africa)


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