Tuesday May 6, 03:14 PM
Oil price jumps past 121 dollars for first time
LONDON (AFP) - Oil prices hit a record high 121.69 dollars here on Tuesday as the market was driven by fresh violence in key producer Nigeria and a struggling US currency, analysts said.
New York's main oil futures contract, light sweet crude for June delivery, hit the the historic peak in late afternoon European deals.
London's Brent North Sea crude also reached an all-time high of 120.25 dollars.
Both records beat high points set earlier in the day.
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