Tuesday May 6, 03:26 PM
Oil price strikes 122 dollars for first time
LONDON (AFP) - Oil prices hit a record high 122 dollars on Tuesday as the market was driven by recent unrest in key producer Nigeria and a struggling US currency, traders 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 120.41 dollars.
Both records beat high points set earlier in the day.
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